Dear all
I want to know that what is this applicable on run A Beauty parlars ?
I come under 44AD & 44AA or it is bussines OR profession. ?
Its used ITR4 Or ITR4S.
Please above query solved on urgent basis.
Thanks
6 Replies
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 13 March 2014
Dear Ramanuj
if your question is regarding ITR selection then i suggest you file it in ITR 4.
Regards
Ramanuj
(Accountant.)
(834 Points)
Replied 13 March 2014
Sir,
Its means come under profession not bussines. 44ab applicable above 25 Lacs. or not 1 crore bussines.
thanks
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 13 March 2014
Sir
Please wait let me check
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 13 March 2014
Sir
Please read this (for 44AD)
/articles/section-44-ad-of-income-tax-act-17916.asp#.UyGmafmSyFA
(According to this 8% of your gross total sales will be deemed to be the profit and you will not be allowed to take deduction under of expenses under sec 30 to 38)
hence i recommend to go for itr 4
Regards
Ramanuj
(Accountant.)
(834 Points)
Replied 14 March 2014
Thanks sir,
But its come under profession or bussines. What is limit tax audit applicable 25 Lacs OR 1 Crore ?
Please advise us.
Tahnks
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