Applicability of sec44d for courier agency
This query is : Resolved
13 November 2017
Dear Sir/Madam,
A Proprietory Courier Agency ( a Franchisee ) with a turnover under Rs.Crore were filing IT with PL and BS method had opted for paying Income Tax under SEC 44D for last Financial Year ( 2016-17) . But the same was returned by IT dept stating it is defective . Why ? In Online filing , Courier Agency is listed ( 0704 ).
Yet some accountants state Agency business is not in the ambit of Sec44D simply because the nature or Courier Business is coming as Agency
Under what rule can the Prop. firm pay or cannot ( or should not ) pay IT under Sec44D .
Please clarify.
A Proprietory Courier Agency ( a Franchisee ) with a turnover under Rs.Crore were filing IT with PL and BS method had opted for paying Income Tax under SEC 44D for last Financial Year ( 2016-17) . But the same was returned by IT dept stating it is defective . Why ? In Online filing , Courier Agency is listed ( 0704 ).
Yet some accountants state Agency business is not in the ambit of Sec44D simply because the nature or Courier Business is coming as Agency
Under what rule can the Prop. firm pay or cannot ( or should not ) pay IT under Sec44D .
Please clarify.
13 November 2017
See the link.
https://taxguru.in/income-tax/persons-carrying-agency-business-earning-commission-income-revise-return-ay-201112-original-return-filed-44ad.html
https://taxguru.in/income-tax/persons-carrying-agency-business-earning-commission-income-revise-return-ay-201112-original-return-filed-44ad.html
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
- Reporting Income under Section 44ADA
- Itr 1 processing
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
