Please Help: Sec 44AD
Posted Date : 09-Sep-2013 , 06:35:19 pm | Posted By Kapil Singhal
please clarify that an assessee has not obtained sec 44Ad for fy 2011-12 and deposited tax at a normal manner on 31-july-2012 in 2012-13 assessee has aprofit less than 8% of turnover and turnover is less than 1 crore.is assessee is required to do tax audit?
Category : Income Tax | Answers : 3 | Comments : 3 | Hits : 97
Answers
Answer By: Vaneet Gupta
Yes
Answer By: SUBHASH KUMAR JHA
According to section 44AD of IT act if income of an assessee under presumptive taxation scheme is more than income computed under normal provision and assesse will opt for normal provision then he will have to get their accounts audited under section 44AB
Answer By: SUBHASH KUMAR JHA
According to section 44AD of IT act if income of an assessee under presumptive taxation scheme is more than income computed under normal provision and assesse will opt for normal provision then he will have to get their accounts audited under section 44AB
Comments
SUBHASH KUMAR JHA
10-Sep-2013 , 10:26:58 amAccording to section 44AD of IT act if income of an assessee under presumptive taxation scheme is more than income computed under normal provision and assesse will opt for normal provision then he will have to get their accounts audited under section 44AB
Kapil Singhal
10-Sep-2013 , 10:39:35 amIs there any option or it compulsory to opt Sec 44AD in above mentioned case?
Kapil Singhal
10-Sep-2013 , 10:40:30 amIs there any option or it compulsory to opt Sec 44AD in above mentioned case?