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

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(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
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
10 December 2014 yes loss is available to be c/f.
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DrSANGITA PHD MBA(usa)CACSCWA

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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
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