Menu
Wrong application of sec.44ad
Respected sirs,
one of my client is having income from commission. while filing his IT return, i wrongly used 8% net profit provision.(sec.44AD) for which commission income is not eligible.
1) his income is below tax audit limit.
2) he now has received 143 (1) notice. 3) all the books are submitted to A.O what can be the sequence / penalty that can be imposed?
Replies (2)
143(1) is not notice, but summry assessment order
please check your point
sorry sir, section is wrong. but he received notice from ITO.
my doubt is what is the penalty for filing return in wrong section & in wrong ITR form? pls clarify.
Recent Threads
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
- Tds penalty for in operative pans
- TDS on Property- 26QB filing Doubt
- HSN code for Exempted supplies
- HSN Summary of Outward Supplies (Sales and Advance
Related Threads
CAclubindia
