Tax audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2012
im a sole proprietor having a turnover of 30 lakhs and loss of 2 lakh. can i file a loss return without tax audit ? further i want to state that proper books of accounts are maintained. will sec 44AD will apply in case if proper books of account is maintained?
06 July 2012
Dear Friend, you can not file loss return without audit of your account U/s. 44AD. The Section itself provide to declare profit upto 8% of the turnover and ll expenses related to business including loss is deemed to be provided. Thanks
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2012
if i maintain books of accounts will sec 44AD will apply???
06 July 2012
Maintaining of Books of Account & Audit is compulsory if tax payer want to show his income below than presumption 8%.
Otherwise not compulsory.
Otherwise not compulsory.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
