Easy Office
Easy Office

Regarding 44ae


Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
16 August 2018 Please help

I have to file return in 44AE, so whether I have to fill gross receipt or net receipt after expenses in income.
If i am filing my return in 44AE more tax is coming, so can I show the Income in normal Business Income, after claiming all deductions for expenses. so that tax liability will be reduced.

16 August 2018 To fill Gross receipts, Gross profit, Expenses and Net profit has to be filled in.

44AE is optional. You can opt normal method if you so wish provided you have to
maintain books of accounts as specified under section 44AA and get the books
audited under section 44AB.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
16 August 2018 Sir, If I opt for 44AE so Can I show monthly Income after deducting expenses ?


Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
16 August 2018 Sir, If I opt for 44AE so Can I show monthly Income after deducting expenses ?

Sir Suppose my Total Freight without deducting any exp for the year is approx 14 lacs and if I show my monthly Income as 14 lac /12 = 116000, Tax liability will be very high. so can I deduct expenses from this and then show in 44AE ?

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
17 August 2018 Sir, If I opt for 44AE so Can I show monthly Income after deducting expenses ? Sir Suppose my Total Freight without deducting any exp for the year is approx 14 lacs and if I show my monthly Income as 14 lac /12 = 116000 Gross Income(T/o) . so can I deduct expenses from this and then show in 44AE ?

Sir, kindly help me with this.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries