Dear Sir,

I have a query regarding 44AD r.w.t 44AB of Income tax act 1961.

query is as follows along with supporting provisions and FAQs.

PFA act of 44Ab, 44Ad and FAQs mentioned on income tax site (https://www.incometaxindia.gov.in/_layouts/15/dit/mobile/faqs/faq-questions.aspx?key=FAQs+on+Tax+on+Presumptive+Taxation+Scheme&k=)

As mentioned in ACT under 44AB, that if assessee had opted 44AD in earlier previous year and now he is opting out from 44AD during the current previous year then he is liable to get audit of book of a/c.

but in FAQs
there is Two points mentioned,

in first point, it is mentioned that if assessee is not opting 44AD and opt normal provision of income tax then normal provision ( turnover - expeneses = income ) will apply, then assessee will require to maintain books of account. and if t/o exceeds Rs. 1 crore then audit u/s 44ab will be applicable.

In Second point, it is mentioned that a person who is eligible for 44ad declares his income at a lower rate ( at less than 8%/6%), if he does so and his income exceeds maximum amount not chargeable to tax, then he is required to maintain books of account as per 44AA and has to get his accounts audit u/s 44Ab.

Please go through and suggest me that if a partnership firm(formed in may 2017) declares 90 lakh turnover and profit at 3.33% of 3 lakh and he does not opt 44ad he opt normal provision ( turnover - expeneses = income ) and maintain books of accounts as per 44AA and file ITR 5 ( applicable to partnership firm). then, is he liable to audit?

i will be very thankful.

Dear Sir, I am filling the income tax Return -1 as salaried person, I am getting problem at the submit.

Please find the below Error
Error: since the amount is disclosed in income chargeable under the head salaries is less than 90 % of Salary reported in Tds-1

As per Form 16 Salary 696456/- Less HRA Allowance: 157440 Conveyance allowance: 19200 I am putting the salary part : 519816/- after deduction Hra & Conveyance Allowance

Is it mandatory for retired partners to sign off the balance sheet?

What is the revised ITR form for AY 18 19 corresponding to ITR V of AY 17 18. Please let me know.

While filing presumptive income u/s 44 ad or 44 ada the itr-4 is asking us to fill the total balance sheet which is not logical. When the books are not being maintained how can we make balance sheet. One one side the income tax department is asking us to file on non-account case and simultaneously on other side the income tax department is asking the assessee in ITR-4 to fill the total balance sheet. It is not possible unless and until books are maintained. Please pass your comments on my views. I shall be highly obliged to u.

Dear Sir,
could you provide all the mandatory services, as per the Act and other services which was notified by the CBDT, which are eligible for under Section 44ADA for presumptive income

My friend is having commission income 10lacks plus and TDS deducted U/s 194H.(FY 2017-18)
which ITR is suitable for this commission income ?
if the ITR 3 is applicable then he eligible to claim expenditure?

may i use ITR 2 for this income?

if the commission income is less than 400000, can i use ITR 2?

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Sir,

Partnership Firm
I have declared presumptive basis U/s.44AD, Which ITR Form Select.
1. ITR -4
2. ITR -5

Please clarify