Scrutiny of bank occounts and sec44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 August 2013
respected sir,
i have filed return for ay 2011-12 under sec 44ad and declared gross receipts amounting to rs 53 laks and paid tax at 8%.
now i got a problem .i received a notice from ito asking me to produce books of occounts for ay 2011-12, and i came to know that notice initiated to enquire about the bank transactions where there is 50 laks credits .
now i want to know that can i answer to notice that , as i have declared my income under sec44ad ,i am omitted from sec44aa and so that i cant produce books of occounts.
in this regard i requet your suggestions
thanking you
i have filed return for ay 2011-12 under sec 44ad and declared gross receipts amounting to rs 53 laks and paid tax at 8%.
now i got a problem .i received a notice from ito asking me to produce books of occounts for ay 2011-12, and i came to know that notice initiated to enquire about the bank transactions where there is 50 laks credits .
now i want to know that can i answer to notice that , as i have declared my income under sec44ad ,i am omitted from sec44aa and so that i cant produce books of occounts.
in this regard i requet your suggestions
thanking you
25 August 2013
No in this case u need to comply with the contents in full if u ignore them then further the consequence will be more harsher.
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