banner_ad

Loss in case of presumptive taxation under section 44ad and 44ae

This query is : Resolved 
Profile Image

Profile Image

(Querist)
10 December 2014 hello As provided in section 44AD and 44AE, actual loss shall lapse if these sections are applied. But the books need to be audited. My question is : if the books are audited, will the loss be available for set-off or carry forward? Regards
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
10 December 2014 yes loss is available to be c/f.
Profile Image

DrSANGITA PHD MBA(usa)CACSCWA

Profile Image

DrSANGITA PHD MBA(usa)CACSCWA (Expert)
30 December 2014 Once Books are audited than the applicability of 44AD / AE will not persist but you are only using that part of the Section which tell you to File Audited Accounts if you dont offer Income at 8% or Rs xxxxx Per Vehicle / PM based on the Type of Transport Vehicles owned by you.
Hence you can take benifit of Loss as C/fd as per provisions of Sec 72
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details