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Get 50% Tax Exemption | Section 44 ADA | Tax Savings for IT employees

Original: Get 50% Tax Exemption ๐Ÿ˜ | Section 44 ADA | Tax Savings for IT employees | Software engineer

29.7K views ยท Sep 07, 2022 ยท 3:44 min ยท Watch on YouTube โ†—
Takeaway

IT professionals working as consultants under Section 44ADA can claim 50% of receipts as deemed expenses, hugely reducing taxable income.

Summary

  • Section 44ADA presumptive tax scheme allows 50% of gross receipts to be treated as expenses without proof
  • Eligible professionals include engineers, software developers, movie artists, singers, directors and other notified professions
  • IT industry professionals working in a contract / consultant capacity can avail this benefit
  • Reduces income tax outgo dramatically for eligible freelance or consultant professionals
  • Recommended consideration for software engineers who can structure their work as professional services
Section 44ADATaxIT ProfessionalsFreelancePresumptive
Original description 
Explained Section 44 ADA which discusses, how to save tax for IT Employees and software engineers. How to save tax above 5 LAKH and 10 LAKH salary.

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๐“๐จ ๐’๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ ๐˜๐จ๐ฎ๐ซ ๐Œ๐จ๐ง๐ž๐ฒ๐ฉ๐ฎ๐ซ๐ฌ๐ž ๐‚๐ก๐š๐ง๐ง๐ž๐ฅ ๐“๐ซ๐ฒ ๐“๐จ ๐Ž๐ฉ๐ž๐ง ๐˜๐จ๐ฎ๐ซ ๐ƒ๐ž๐ฆ๐š๐ญ ๐€๐œ๐œ๐จ๐ฎ๐ง๐ญ ๐“๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐๐ž๐ฅ๐จ๐ฐ ๐Ÿ‘‡ ๐‘๐ž๐Ÿ๐ž๐ซ๐ซ๐š๐ฅ ๐‹๐ข๐ง๐ค๐ฌ 
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๐Ž๐ง๐ฅ๐ข๐ง๐ž เฐฒเฑ‹ ๐„๐š๐ฌ๐ฒ เฐ—เฐพ ๐ƒ๐ž๐ฆ๐š๐ญ ๐š๐œ๐œ๐จ๐ฎ๐ง๐ญ ๐จ๐ฉ๐ž๐ง เฐšเฑ‡เฐฏเฐกเฐ‚ เฐŽเฐฒเฐพ ๐Ÿ‘‰ https://youtu.be/9Pz_ADhR5Q8

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