Efiling using digital signature u/s 44ad-reg

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This query is : Resolved

A.Dhilipkumar (Querist)

19 January 2012 Sir,

I am going to file incometax return through efiling. We are using 44AD of Income Tax Act, the turnover is below 60.00 lacs . But audit has been done as given in the above section.

I am having doubt that
1. whether digital signature is mandatory for filing income tax return efiling u/s44AD and audit conducted on it.
2. Wheter audit conducted u/s 44AD is tax audit u/s 44AB or other audit.
please clarify on the above points as soon as possible.

with regards
dhilipkumar a

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)

19 January 2012 Audit is not required if income is declared under Section 44AD.

Once an assessee falls within the perview of Section 44AD, audit of accounts is not required.

Since audit is not required, it is not mandatory to file income tax return using digital signature.

Even if audit has been conducted, as far as return filing is concerned, digital signature is not required.

A.Dhilipkumar

A.Dhilipkumar (Querist)

19 January 2012 Dear sir,
Thank you for your reply

If the profit shown is below 8% of gross receipts .
Whether audit is compulsory
Whether Digital signature is required
with regards
dhilipkumar a.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)

19 January 2012 If the profit is shown below 8%, maintaining books of accounts and getting the books audited is compulsory.

In that case, the return will NOT be filed under Section 44AD (ITR4S will not be used). It will be filed under the normal provisions of the Act (ITR 4 shall be used).

Further, digital signature is mandatory to file the return.

Guest

Guest (Expert)

19 January 2012 DCS mandatory if profits are shown as less than 8% since then audit becomes mandatory.

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