suresh (student) (82 Points)
21 April 2018My business turnover is Rs.80 lakhs for the A.Y 2017-18 and filed my return un/s 44AD and my business turnover for the A. Y 2018-19 Rs.3,40,00,00/-. Pls suggest me whether i have to file return of income U/s 44AB or 44AD as per amendment u/s 44AD (4) AND 44AD(5).
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(167616 Points)
Replied 22 April 2018
As section 44AD not applicable, adopt normal assessment...... (u/s. 44AA & 44AB)
Saifullah Khalid
(Autodidact/Curious )
(633 Points)
Replied 22 April 2018
| Originally posted by : suresh | ||
 |
My business turnover is Rs.80 lakhs for the A.Y 2017-18 and filed my return un/s 44AD and my business turnover for the A. Y 2018-19 Rs.3,40,00,00/-. Pls suggest me whether i have to file return of income U/s 44AB or 44AD as per amendment u/s 44AD (4) AND 44AD(5). |  |
Are you missing a " zero " in that above (BOLD/Underlined) figure ?..... if the answer is " NO " then your above given turnover is well within the upper threshold for 44AD ..
OR your problem is with declaring lower then specified percentage of net profit resulting in attraction of clause/subclause 44AD(4) and 44AD(5) ?
suresh
(student)
(82 Points)
Replied 23 April 2018
Thank u My turnover is 3,40,00,000/- then tell me what to do sec 44AB OR NOT I want to declare 4% on turnover. then suggest me.
Saifullah Khalid
(Autodidact/Curious )
(633 Points)
Replied 23 April 2018
| Originally posted by : suresh | ||
|
Thank u My turnover is 3,40,00,000/- then tell me what to do sec 44AB OR NOT I want to declare 4% on turnover. then suggest me. | |
YES , 44AB audit is compulsory/mandatory in your case .....
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