44AE
This query is : Resolved
rajni ASHANI
(Querist)
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
Message likes :
1 times
Aditya Maheshwari
(Expert)
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.
Message likes :
1 times
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
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- 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
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
