Presumptive income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 January 2013
SIR
Am having doubt in regarding presumptive income business. If a person carry on business of hiring i.e 44 AE.. my doubt is whether his turnover exceed the limit prescribed under 44AB he shall continue to show under presumptive head or tax audit???? .. please clarify my doubt.
Am having doubt in regarding presumptive income business. If a person carry on business of hiring i.e 44 AE.. my doubt is whether his turnover exceed the limit prescribed under 44AB he shall continue to show under presumptive head or tax audit???? .. please clarify my doubt.
03 January 2013
If your already crossed the prescribed limit given u/s 44AE, you must be maintain all book of accounts & filed you income tax return as regular business activity.
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