Ifos

Page no : 2

S ELAVARASI (ACCOUNTANT) (2975 Points)
Replied 22 July 2018

In normal assessment u/s 44aa can will show profit Rs.4.5lakhs?

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S ELAVARASI (ACCOUNTANT) (2975 Points)
Replied 22 July 2018

Sir., in case any other Business (if eligible business) then can i move itr 4 (as per my query itr 4s ay 15-16, itr 4 16-17 & itr 3 17-18 now itr 4 AY 18-19?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (174880 Points)
Replied 22 July 2018

Yes, you can opt in for presumptive assessment for any 'eligible business'; but keep locked in for 5 years.. (not advisable to opt out)

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (174880 Points)
Replied 22 July 2018


	In normal assessment u/s 44aa can will show profit Rs.4.5lakhs?

Yes, no problem (just 25%)...

1 Like

S ELAVARASI (ACCOUNTANT) (2975 Points)
Replied 23 July 2018

Thank you for the Replies Sir...

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S ELAVARASI (ACCOUNTANT) (2975 Points)
Replied 23 July 2018

(not advisable to opt out) If books having but not satisfied as cash expenses, Bank Deposit/Credits cant find out from which customer given that amounts. So,i fully confused...

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (174880 Points)
Replied 23 July 2018

No restriction for opting sec. 44AD, and is good for such contractor business, who do not maintain any records ....... so, easy to file ITR....... only when you opt out or go for normal assessment then only restriction applied. So, continue with presumptive......