Applicability of sec. 44ab with 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2012
MR. XYZ has a turnover of his proprietorship(Trading of building material )business is more than Rs.60 lakh In A.Y 2012-13 i.e Sec 44AB applicable. Also he has contract income on which TDS deducted can he apply Sec 44AD for Contract income and Sec 44AB for Trading business simultaneously.
15 September 2012
no he cannot apply 44ad and 44ab becuase here assessee is only one person. the tax liability is calculated on the assessee but not business.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Capital gain on flat sale by nri, rate is 12.5% wo indexation or 20% with indexation?
- Payable outstanding for years disallowance
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
