I am working as a software professional with salary of 5Lakhs per annum and I am doing a freelancing job which also fetching me 5 Lakhs per annum(profit is more than 50%). Will I be able to take the benefit of 44AD?
What will be I total Taxable Income?
Do I need to maintain a book of accounts?
Is it legal or illegal to take benefit if I have both salary and professional income?