whether presumptive profits applicable to Society or not? Is it possible to do E-Filing for society? pls reply.....Thanks in advance..
2 Replies
Devendra
(Chartered Accountant)
(4775 Points)
Replied 15 February 2013
In case of Presumptive income (ie. section 44AD of Income Tax Act, 1961), the eligible assessees are Individual, HUF and Partnership.
In your case the assessee is a Society, hence the Society shall not be an eligible assessee to claim benefit u/s 44AD of the Income Tax Act, 1961 (Presumptive Income).
Regards,
Devendra Kulkarni
Sohail
(CA)
(142 Points)
Replied 15 February 2013
Thanks for ur reply.....I have 1 more query.Is it possible to do E-filing for society?Thanks in advance.....
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
