Business covered u/s 44AD
Jatin Verma (72 Points)
12 September 2017
Is real estate business covered u/s 44AD?
17 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 12 September 2017
Yes. Why not...?
You can follow the rules then You can file u/s 44AD....
You can follow the rules then You can file u/s 44AD....
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 12 September 2017
If u/s 44AD then you can maintain All the income receipts...
(U/s 44AD limit is 2cr) above 2cr the section is not applicable....
(U/s 44AD limit is 2cr) above 2cr the section is not applicable....
Jatin Verma
(72 Points)
Replied 12 September 2017
only detail of income ? .... and what about expenses?
Jatin Verma
(72 Points)
Replied 12 September 2017
only detail of income ? .... and what about expenses?
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 12 September 2017
Yeah....
U/s. 4AD you can't show the expenses. That's the deal of 44AD.
No maintain books of accounts...
No Audit requirements... 
Jatin Verma
(72 Points)
Replied 20 September 2017
sir if we show income under 44AD .is it required to fulfill the conditions u/s 44AA?
Jatin Verma
(72 Points)
Replied 20 September 2017
i means filing of Part B of both P and L and balance sheet is mandatory?
Jatin Verma
(72 Points)
Replied 20 September 2017
sir bt as per sec 139(9) read with 44AA evenif assesse opt for presumptive he needs to maintain books
Jatin Verma
(72 Points)
Replied 20 September 2017
sir bt as per sec 139(9) read with 44AA evenif assesse opt for presumptive he needs to maintain books
Jatin Verma
(72 Points)
Replied 20 September 2017
sir bt as per sec 139(9) read with 44AA evenif assesse opt for presumptive he needs to maintain books
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 20 September 2017
An intimation from the Income Tax Department is sent to a taxpayer when the Department has found an error with the income tax return you have filed. Common cases when notice for defective return is sent:
– when you have filled up details of taxes paid, but have not provided income details, the Income Tax Department deems it defective.
– A notice for defective return is sent when tax deducted has been claimed as a refund, but no income details are provided in the return.
– The Department sends you a notice for defective return under Section 139(9), when you haven’t paid your taxes in full.
– when you are required to maintain balance sheet and profit and loss statement, but haven’t attached them with your income tax return, the tax return is declared defective.
– the name mentioned on the income tax return does not match with the name on the PAN card.
It's only for Defective returns
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