NO ACCOUNT CASE
This query is : Resolved
28 November 2010
WHEN IS IT ADVISABLE TO MAKE A NO ACCOUNT CASE WHILE FILING AN INCOME TAX RETURN?
28 November 2010
When the client is not maintaining regualar accounts then it is advisable to file a "no account case" return.
These returns are based on presumtive profits like Section 44AF.
Please make sure that you follow the provisions of presumtive section strictly while filing the return. For example you will have to declare the profit @ 8% on Rs. 60 lacs for A.Y. 2011-12 or you may declare higher profit also.
These returns are based on presumtive profits like Section 44AF.
Please make sure that you follow the provisions of presumtive section strictly while filing the return. For example you will have to declare the profit @ 8% on Rs. 60 lacs for A.Y. 2011-12 or you may declare higher profit also.
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