44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 November 2011
MY FATHER IN IN THE NETWORKING BUSINESS. I AM FILLING RETURN AS BUSINESS AND GETTING REFUNDS FROM PAST THREE YEARS. ACTUALLY IN THIS BUSINESS INVESTMENT IS NIL, ACTUAL EXPENSES IS NIL TO 1% AND NOW TIME IN BUSINESS IS ALSO 8 TO 10 DAYS IN A YEAR. THEY RECEIVING 350000 TO 400000 IN A YEAR. I FILE RETURN ON BASIS OF FR..D EXP AND GET REFUND. CAN I FILL RETURN UNDER SEC 44AD.
CA PARAS BAFNA
(Expert)
19 November 2011
You can file his return U/s 44AD as -
1. Your father, being an Individual, is an "eligible assessee."
2. He is carrying on the business and the said business is an "eligible business".
3. Turnover/ Gross Recipts does not exceed
60 lacs.
1. Your father, being an Individual, is an "eligible assessee."
2. He is carrying on the business and the said business is an "eligible business".
3. Turnover/ Gross Recipts does not exceed
60 lacs.
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