44ad
This query is : Resolved
24 August 2016
Hello Experts
I am an accountant. I want to know about business declared u/s 44AD.
Sir My client is working with a saloon on salary basis and he is also getting share of profit from the employer of saloon.
How I can show the income of my client who is individual?
Can I show his business income and file return u/s 44AD or what?
Pl guide.
Regards
I am an accountant. I want to know about business declared u/s 44AD.
Sir My client is working with a saloon on salary basis and he is also getting share of profit from the employer of saloon.
How I can show the income of my client who is individual?
Can I show his business income and file return u/s 44AD or what?
Pl guide.
Regards
ACA Anurag
(Expert)
24 August 2016
Dear sanjay,
44 AD is applicable where 8% is taxable on the total turnover where as in your case your client is getting salary and some part of profit.
So in view u cant use 44AD for filling your return
Kindly like if my response has helped you
44 AD is applicable where 8% is taxable on the total turnover where as in your case your client is getting salary and some part of profit.
So in view u cant use 44AD for filling your return
Kindly like if my response has helped you
Amol S Joglekar
(Expert)
24 August 2016
The person is a salary earner...hence 44AD is NOT appplicable
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
