Business income u/s 44AD

This query is : Resolved 

10 December 2009 My assessee is a builder and developer firm. Since past few years it was showing its income u/s 44AD.
Now the prob.is my assessee has sold a land and registered it in the month of march'09. Sale consideration is recd. part in march and major part in april'09. the total consideration is exceeding Rs.40 lakhs for sale of 2 properties. but if we split it into two years on cash basis the consideration is less than Rs.40 lakhs in each year.
Since in earlier years returns were filed u/s 44AD (assuming cash recd. basis). Even after registration of properties thasame can be filed u/s 44AD on cash receipt basis.

Kindly give ur opinion.
Thanks in advance

11 December 2009 44AD is when sale is below 40 lacs, since now sales is above 40 lacs than maintain books, get audited & file ITR


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news



Answer Query



Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details