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
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details