Point no 10 of audit report
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 August 2013
A Person have profit under section 44AD . Whether it is right to show this point in audit report under point no- 10 of 3cd.
and also please explain this point
and also please explain this point
CA PARAS BAFNA
(Expert)
19 August 2013
This point has become historical and lost its utility upto a great extent at the very moment when Section 44AF has been repealed and Section 44AD has been made applicable.
.
Prior to insertion of Section 44AD, it was possible to opt a business U/s 44AF and others into tax audit.
.
In case the assessee has opted 44AE, Para 10 may have a remark like "Yes", but in such a case alternatively the income can be credited to the capital account of the assessee if you want to reply "No" in all your tax audit cases.
.
.
Prior to insertion of Section 44AD, it was possible to opt a business U/s 44AF and others into tax audit.
.
In case the assessee has opted 44AE, Para 10 may have a remark like "Yes", but in such a case alternatively the income can be credited to the capital account of the assessee if you want to reply "No" in all your tax audit cases.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Reward for festival
- 18% Rent a cab
- ARCA LOGIN
- TDS Return Statement Status
- Appointment of Auditor By Form ADT-1
- Closer of business and itc of capital goods
- Import of Capital Machine
- Capital gain on commercial property and investment in residential property
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
