DEAR SIR / MADAM.,
MY ITR V (AY 2017-18) IS RECEIVED BY ITD. WHEN IT'S PROCESSING...?
3 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 05 December 2017
This year ITR processing is bit slow. It mainly depends upon which ITR filed (ITR1 gets processed earliest) and the nature of income/s declared.......... In general it takes about 8 to 10 weeks.
ramcharan012017
(accountant)
(87 Points)
Replied 06 December 2017
Thank you sir...
i file m return u/s 44AA with profit above 8%...
which condition AO ask the ccounts details...
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 06 December 2017
The 8% minimum profits declaration is under section 44AD, i.e. presumptive assessment. (no accounts case for some business).
As per AIR reporting, and some specific criteria, the ITRs are selected for scrutiny, otherwise they are not called for any such accounts details.
In general, department accepts the declaration of the assessee without any query, when nothing found objectionable.
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