06 October 2010
i have declared and filed income u/s 44AE amounting to165000/- under head "Income from Business" and Rs. 12000/- from "other Sources" in case of male taxpayer , total 177000/- and treated as NO ACCOUNT CASE in ITR4. is anything wrong, comparing to section 44AA...plz help..
06 October 2010
According to Sec 44AA it has been mentioned that if you are falling u/s 44AD, 44AE, 44AF then you should not keep any books of account but if you are claiming profit amount less in comparison as mentioned in aforesaid sections then you must have to keep books of accounts.
Now, i believe you paid correct tax on specified profit, i.e., Rs. 3150pm for LMV and Rs. 3500 pm for HMV then there is no any problem.
CAclubindia
