Income Tax Return
This query is : Resolved
22 October 2009
1) What is last date for filing a return if i have IT refund? Till i have not filed return for the A.Y 2009-10. Am i liable to pay any penalty? And
2)what percentage of tax to be calculated on 8% profit calculated u/s 44AD.
Please reply me.
2)what percentage of tax to be calculated on 8% profit calculated u/s 44AD.
Please reply me.
23 October 2009
U can file a belated return upto 31/3/11 for AY 2009-10
If its a refund no penalty can be levied if the return is filed before 31/3/2010.
8% will be deemed to be your book profit u/s 44AD Normal slab rate
If its a refund no penalty can be levied if the return is filed before 31/3/2010.
8% will be deemed to be your book profit u/s 44AD Normal slab rate
23 October 2009
Agree with the expert
CA SANJAY MUKHERJEE
(Expert)
23 October 2009
Agree with expert.
24 October 2009
Thank u all.
What percentage of Income Tax to be charged on 8% profit?
What percentage of Income Tax to be charged on 8% profit?
18 November 2009
THere is no special rate for such income. Tax is payable at normal rates.
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