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.
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
- Households luggage
- Cloud service
- Regarding Change in Signature before applying for membership
- CSR Impact Assessment
- P&L and B/s Format for Public Companies
- Capital contribution of Land into SPV for Specific project attracts Income Tax & why ?
- GST on Fresh Juice Center(Sugarcane)
- SECTION 194T
- Selecting Tax Regime while for calculating tax relief on under Section89 of income tax act 1961.
- GST ON FOREIGN CLIENT
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
- Clarification Required on GST Rate & HSN Classification – Millet-Based Probiotic Drink
- TDS Return filing if only have 15G /15H deductions and no other payments
- 80G deduction eligibility
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani -
IDT LIVE Exam Oriented Batch | May 2026, Sept 2026 & Jan 2027
CA Arpita Tulsyan
CAclubindia
