Can rebate be used if assess opt for 44AD .....
Eg.1...1 crore turnover ...so u/s 44AD 8% profit is declared i.e. Rs. 800000 so here Rebate cant be used although it is under 44AD
Eg.2...5500000 Turnover ...so now u/s 44AD 8% profit is declared i.e.440000 ....Now my query is it is below 500000 that is 440000 now rebate can be used u/s 87A ?
Any body plz solve these query .please
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Rebate u/s 87A with 44AD
Dear Sagar Padhi.,
Also you get answer from Our great Expert Mr Dhirajlal Rambhia Sir..... As follow...
( Dhirajlal Rambhia  07 October 2017
Correct for AY 2017-18.
(assuming gross taxable income of Resident Individual below 5 lakhs))
Also you get answer from Our great Expert Mr Dhirajlal Rambhia Sir..... As follow...
( Dhirajlal Rambhia  07 October 2017
Correct for AY 2017-18.
(assuming gross taxable income of Resident Individual below 5 lakhs))
Correct for AY 2017-2018 means.,
U/s 87A Rs. 5000 allowed AY 17-18 (FY 16-17)....
In previous year it's just 2000 only..
In C/FY it's 2500* only....
U/s 87A Rs. 5000 allowed AY 17-18 (FY 16-17)....
In previous year it's just 2000 only..
In C/FY it's 2500* only....
You are not getting the question sir...i know the limits...amounts....
I just want to know can I use rebate when i use 44AD...thats all sir
I just want to know can I use rebate when i use 44AD...thats all sir
Dear,
Also getting the same in first reply.
Yes we can avail the benefit if "RESIDENTIAL INDIVIDUAL"
See the first reply from Mr Dhirajlal Rambhia Sir...
Also getting the same in first reply.
Yes we can avail the benefit if "RESIDENTIAL INDIVIDUAL"
See the first reply from Mr Dhirajlal Rambhia Sir...
| Originally posted by : Sagar padhi | ||
 |
You are not getting the question sir...i know the limits...amounts....I just want to know can I use rebate when i use 44AD...thats all sir |  |
Yes, you can avail rebate u/s. 87A when the income assessed under sec. 44AD (simultaneously)
|
Sir, Please one more question... As of above way I stand as following... (In CAs we touch 44ad)1. Show the profit 8% / 6%2. Don't be show less than above. If less than 44AB applicable. 3. In case we show loss then we can use 44ad.4. If show it loss and base 44AA then 44AB applicable.....5. No need books of accounts if show loss sec 44ad.... So,I use above said points in that accounts... Am I Right Sir...?Please correct me if I am wrong...!!! | |
Am I Right Sir...?.............
Yes. technically right....... drafting can be improved.....
Also these applicable to partnership firm.
Thank You Sir.,
Sorry Sir...
My English very bad... I'm not fluent. So, I'm not ask/give proper wordings....
How I'm understanding above my case with your reply and Solving..... As
1. If we file u/s 44ad... We show only above 8/6 percentage.. If it's less then 44AB applicable...
2. We can show loss u/s 44ad. No need books of accounts.
3. In case we show the profit Rs. 1. Also 44ab is attracted...
Sorry Sir...
My English very bad... I'm not fluent. So, I'm not ask/give proper wordings....
How I'm understanding above my case with your reply and Solving..... As
1. If we file u/s 44ad... We show only above 8/6 percentage.. If it's less then 44AB applicable...
2. We can show loss u/s 44ad. No need books of accounts.
3. In case we show the profit Rs. 1. Also 44ab is attracted...
Dear Dhirajlal Sir.,
Thank you for the replying and Given Exact solutions and also noted the Sections... 
I have one question sir.,
What is the exact meaning for "technically right....... drafting can be improved...???
| My English very bad... I'm not fluent. So, I'm not ask/give proper wordings.... How I'm understanding above my case with your reply and Solving..... As1. If we file u/s 44ad... We show only above 8/6 percentage.. If it's less then 44AB applicable... 2. We can show loss u/s 44ad. No need books of accounts.3. In case we show the profit Rs. 1. Also 44ab is attracted... | ||
Dear, Your english is not very bad......... there are many who are still learning........ and I have noted your improvement......... So, no need to degrade own self....... But it was not as per text book............. finally you have rectified to great level. .........Main thing is understanding the principle, which you have cleared, but note that this conditions will be applicable only for partnership firm.
......... Great......... Good luck..........
Thank you very much My Dear Sir.... 🙏🙏🙏🙏🙏😊😊😊
Dear S. Elavarasi,
" What is the exact meaning for "technically right....... drafting can be improved...??? "
Basic or main principle is clear in mind...... but not properly represented (may be as per law/section or books or other experts)........ So, there can be/needs some improvement.
Sir,Dhirajlal Rambhia...A very big thank you for solving queries of mine and also others
Sir,Dhirajlal Rambhia...A very big thank you for solving queries of mine and also others
Most Welcome, Dear Sagar.
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