and sir which expanses i can show u/s 44ae
praveen
(Chartered Accountant)
(6971 Points)
Replied 15 June 2012
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You have to compute the income as per Section 28 first i.e. like any other business and see what the profits are.
Secondly, you should compute the income as per Section 44AE, mind it here you will not get benefit of any expenditure (not even depreciation).
Under Section 44AE you will have to declare the amount whichever is greater, in case if you are benefitting by the normal computation u/s 28 then you have to get the books of accounts audited by a Chartered Accountant u/s 44AB.
Regards
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praveen
(Chartered Accountant)
(6971 Points)
Replied 15 June 2012
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As per 44AE it is correct but consider the normal profit also as i have already stated in the previous post.
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