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Computation of income

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 May 2014 Dear Experts,

Is there any other method to compute Income other than section 44AB and 44AD of IT ACT???
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
20 May 2014 well 44AB is not an income computation section. sections similar to 44AD are 44AE, 44BB etc etc
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 May 2014 Thank for Reply

Yes I do agree that 44AB is Tax Audit applicable section.

In continuation with query:

Stauts : Partnership Firm
Turnover : 1.5 Crore

I will not compute Income u/s 44ad - 8% on Totla Sales becuase my turnover is more than 1 crore

I will not compute my income applying PGBP provisions i.e Income - Expenses

is there any other method to compute income and pay tax on the same????
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