Help required


Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 March 2012 I have filed my it return (Propritership) with 44 AD and having @ 8% taxable income Rs. 102116/- while my taxable income as per profit & loss a/c is Rs.156436/-

which amount should be shown in capital a/c and also in computation ?

any j.e as on 31st March for that ?

pls guide me its urgent

19 March 2012 as per sec 44 AD business income is estimated @ 8%. but assessee can voluntarily declare a higher income in his return.
So if u want to declare more income then u can use 156436/-. But if u show it 102116/- then also it is ok as per sec 44AD

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 March 2012 thanks for reply

if i declare Rs. 102116/- (8% income) as taxable income in IT return then should i add Rs. 102116/- to my capital a/c or Rs. 156436/- which is actual ?



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


CCI Pro

Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news


Answer Query



Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details