Itr

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 February 2014 Sir

Is there any notification or ruling regarding filing of ITR under Income from other sources, for AY 2014-15

Regards

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 February 2014 not yet...they dont notify so early friend..

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Querist : Anonymous

Querist : Anonymous (Querist)

10 February 2014 Nikhil Sir

If I am not filing return under 44 AD,
will i still have to get audt( if profit under 8%)

regards

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 February 2014 depends...see if you have commission income or agency business and your income is less than 1 cr. then neither audit applies nor 44AD applies. In such cases you need to comply 44AA..

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Querist : Anonymous

Querist : Anonymous (Querist)

10 February 2014 Nikhil sir

Commision business, sale less than 1 crore,
Profit less than 8%, bcoz of less profit , do i need audit.

regards

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 February 2014 well if your commission income is less than 1 cr, then no audit regardless of profit..the only problem is how come your profit margins so less in commission income? normally they are pretty high..

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