SEC. 44 AB


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
09 August 2010 ONE OF MY ASSESSEE HAVING 9 TRUCKS , AND FREIGHT RECEIPT DURING THE PREVIOUS YEAR IS Rs. 2 CRORE. LIABILITY OS SEC. 44 AB APPLICABLE OR NOT. HE DECLARE PROFIT ABOUT Rs. 7 LACS, HE FILED HIS RETURN UNDER THE PROVISIONS OF SEC. 44 AE OR NOT.

09 August 2010 IN YOUR CASE IT IS BETTER TO APPLY SECTION 44AE,
BY APPLYING THIS SECTION YOUR NET INCOME WILL BE
9 X 3500 X 12 = 378000
(CONSIDERING THE ABOVE VEHICLES ARE HEAVY VEHICLES)

09 August 2010 Nothing is mentioned of the receipts as per section 44AE and hence the same can be applied in the given case.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
09 August 2010 IF I APPLIED SEC. 44 AE, THE PENALTY FOR NON AUDIT IS APPLICABLE OR NOT

09 August 2010 SECTION 44AB WILL NOT BE APPLICABLE IN YOUR CASE.

09 August 2010 Provisions of section 44AB & penalty will not be applicable in case where profit has been offered as per Section 44AE.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
Featured 19 August 2026
Chartered Accountant

apricus india

Pune

CA

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
ARTICLESHIP 17 August 2026
CA Article Trainee

ASC Group

Noida

CA Inter

View Details