Question ID :
44901
Professionals taxation
Whether a professional can report income less than 50% of gross receipts in their income-tax return if they maintain proper books of account and without tax audit report
Posted by
CA. SURAJ KUMAR CHOUDHARY
on
Jul 29, 2025
Filed Under
DIRECT TAXES
No. you have to conduct tax audit.
Posted by
VINAY BHARGAV KUMAR G on
Jul 30, 2025
Answer ID :
85978
Since it is a professional firm and has not admitted 50% or more as income under section 44ADA, it has to get the books of account audited under section 44AB. Therefore it could be liable for penalty @0.5% of the gross receipt under section 271B. Pl check whether you can file your ITR like what you have stated since, the software may stop you from filing or could warn you in this regard.
Posted by
SUBRAMANI V K on
Aug 02, 2025