Income under section 44ADA

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  1. harshap

    harshap New Member

    Hi,
    I earned a steady income of ~22k per month by interning in a company on which a TDS of 10% was deducted as tax. Later, I joined the same company as an employee with a gross income of 9+ lakh in the same FY (2015-16). Now for the AY16-17, I have to declare the 1st quarter earnings as well and pay the remaining tax amount. Instead, is there a way to get it back by claiming just that 1st quarter income under presumptive taxation scheme's section 44 ADA?
     
  2. ZED

    ZED Well-Known Member

    S.44ADA is applicable from F.Y 2016-17.
    Internship may or may not be taxable. How was the agreement drafted?
     
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