Breakage of 44ad
Jyoti Narang (Kkk) (1203 Points)
03 January 2022Jyoti Narang (Kkk) (1203 Points)
03 January 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166333 Points)
Replied 03 January 2022
Either declare profit as 6/8% of the total sales or go for tax audit u/s. 44AB(e) for next 5 years...
Yeshwanth Phill
(25 Points)
Replied 03 January 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166333 Points)
Replied 03 January 2022
Read Sub-sec. 44AD(4) of IT act...
Jyoti Narang
(Kkk)
(1203 Points)
Replied 03 January 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166333 Points)
Replied 03 January 2022
Not Just profit..... the total income should be below the BEL...
Jyoti Narang
(Kkk)
(1203 Points)
Replied 03 January 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166333 Points)
Replied 03 January 2022
In that case sec. 44AD(4) is not attracted.... i.e. no tax audit liability...
Jyoti Narang
(Kkk)
(1203 Points)
Replied 03 January 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166333 Points)
Replied 03 January 2022
No error in ITR, if the gross total income of assessee (individual/HUF) is BEL.
Jyoti Narang
(Kkk)
(1203 Points)
Replied 03 January 2022
CA Aakarsh Jain
(CA)
(10334 Points)
Replied 03 January 2022
Jyoti Narang
(Kkk)
(1203 Points)
Replied 03 January 2022
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