44ad applicable or not
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 July 2011
DEAR SIR
MY FIRM HAS TOTAL TURN OVER IS 53 LACS AND INCURRED LOSS OF RS 10 LACS. THIS IS FIRST YEAR OF PARTNERSHIP FIRM.
AND WHAT IS DUE DATE FOR FILLING OF RETURN?
MY FIRM HAS TOTAL TURN OVER IS 53 LACS AND INCURRED LOSS OF RS 10 LACS. THIS IS FIRST YEAR OF PARTNERSHIP FIRM.
AND WHAT IS DUE DATE FOR FILLING OF RETURN?
27 July 2011
YES, SECTION 44AD IS APPLICABLE, YOU NEED TO SHOW 8% PROFIT OF TOTAL TURNOVER, IN THIS CASE RETURN FILLING DATE IS 31.07.2011
BUT IF YOU WANTS TO SHOW LOSS OF RS. 10 LACS THEN TAX AUDIT UNDER SEC 44AB IS APPLICABLE, AND DUE DATE OF FILLING IS 30.09.2011.
BUT IF YOU WANTS TO SHOW LOSS OF RS. 10 LACS THEN TAX AUDIT UNDER SEC 44AB IS APPLICABLE, AND DUE DATE OF FILLING IS 30.09.2011.
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 July 2011
THANK YOU SIR.
WHETHER AS-7 APPLICABLE? IF NATURE OF BUSINESS IS CONSTRUCTION
WHETHER AS-7 APPLICABLE? IF NATURE OF BUSINESS IS CONSTRUCTION
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