44AE
This query is : Resolved
13 June 2009
ONE MY CLIENT TRANSPORT CONTRACTOR FILED HIS RETURN FOR A.Y.2007-08 AND SHOWN NET PROFIT EXCEDDING 44AE LIMIT.
BOOKS OF ACCOUNTS ARE PREPARED.
AFTER RECEIVING SCRUTINY NOTICE WETHER HE CAN ARGUE TO OFFICER THAT MY CLIENT HAS ALREADY DECLARED INCOME ABOVE 44AE LIMIT AND DENY SUBMISSION
THX
BOOKS OF ACCOUNTS ARE PREPARED.
AFTER RECEIVING SCRUTINY NOTICE WETHER HE CAN ARGUE TO OFFICER THAT MY CLIENT HAS ALREADY DECLARED INCOME ABOVE 44AE LIMIT AND DENY SUBMISSION
THX
13 June 2009
Hi
As per 44AE the income may be higher also but for lower income the Records must prove and the Audit must be done.
As far as scrutiny is concerned since the Section attracts this business, it will be necessary to provide the details whether higher income or not.
However I am unable to find any case laws. Will let you know if I get.
Rgds
As per 44AE the income may be higher also but for lower income the Records must prove and the Audit must be done.
As far as scrutiny is concerned since the Section attracts this business, it will be necessary to provide the details whether higher income or not.
However I am unable to find any case laws. Will let you know if I get.
Rgds
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13 June 2009
You cannot deny any submissions as even if you had declared income as per the provisions of Section 44AE the provisions of Scrutiny assessment is applciable.
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