44AE
This query is : Open
Arjun Gupta
(Querist)
08 August 2017
What if, the turnover of business of Transporter exceeds Rs 1crore in FY (15-16)? Can we still adopt 44AE in such case and disclose income of Rs.7500per month per vehicle? Is there any requirement of audit in such case?
08 August 2017
No need to audit u/a 44AB(a). Inference - section 44AE(5).
Arjun Gupta
(Querist)
09 August 2017
But I am not able to upload the return (ITR-4) and a dialougue box is appearing on the screen when i tried to upload the xml file saying "Liable for audit u/s 44ab as turnover exceeds rs.1crore." Also, I have shown profits more than the prescribed limit under section 44AE. In such a case, what would be the remedy?
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
- Tax on Amount transferred in HUF Account
- Nursery business
- Working on Gold wastage during Melting of old gold jewellery
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- GST input credit on commercial property
- Gift to nri relatives residing in usa
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- 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
- Tally: Imported bank entries do not show up in manual reconciliation
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
