Tag Archives: #Section44ADA

What tax deductions are available for Architectural, Engineering and Surveying Services during ITR filing?

Tax Deductions for Architectural Tax Deductions for Architectural, engineering, and surveying services can claim certain tax deductions while filing their Income Tax Return (ITR). These deductions help reduce the taxable income and subsequently lower the tax liability. Here’s an explanation with three hashtags related to the answer: 1. ProfessionalExpensesDeduction: Professionals in architectural, engineering,… Read More »

Are architects eligible for the Presumptive Taxation Scheme?

Presumptive Taxation Scheme Yes, architects are indeed eligible to benefit from the Presumptive Taxation Scheme under Section 44ADA of the Income Tax Act in India. This scheme is primarily designed to simplify the taxation process for professionals whose income is generated through various services, including architectural services. Under this scheme, architects can declare a… Read More »

What is the presumptive taxation scheme of Section 44ADA applicable for?

Section 44ADA The Presumptive Taxation Scheme under Section 44ADA of the Income Tax Act, 1961, was introduced to simplify the tax compliance process for small professionals and to reduce their tax burden. This scheme is specifically designed for individuals. Hindu Undivided Families (HUFs), and partnership firms engaged in specified professions. It allows eligible taxpayers to… Read More »