44AF
This query is : Resolved
04 May 2011
Can a person doing E-commerce business having gross receipts upto 8,00,000 claim u/s 44AF?
If yes then since we know that a person claiming u/s 44AF is not required to maintain any book of A/c (including purchase and sale voucher). So will the person be required to prove before authorities at any point of time before authorities that his business is retail only.
If yes then since we know that a person claiming u/s 44AF is not required to maintain any book of A/c (including purchase and sale voucher). So will the person be required to prove before authorities at any point of time before authorities that his business is retail only.
CA SAURABH GARG
(Expert)
05 May 2011
Dear Pallavi,
Section 44AF applies in the case of an assessee engaged in retail trade in any goods or merchandise.
In your case this is not seems to be retails trade dealing in goods or merchandise, so it is not applicable in your case.
There must be some trading business.
Section 44AF applies in the case of an assessee engaged in retail trade in any goods or merchandise.
In your case this is not seems to be retails trade dealing in goods or merchandise, so it is not applicable in your case.
There must be some trading business.
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