Sec 44 ad for real estate business
This query is : Resolved
11 December 2014
Sir
One of our client is doing real estate business, His turnover during the last two previous years is Rs.25 lack and Rs 20 Lack. Whether he is covered u/s 44 AD? Whether he has to maintain books of accounts, because his taxable amount u/s 44 AD is less than Net Profit? This is his first time return.
One of our client is doing real estate business, His turnover during the last two previous years is Rs.25 lack and Rs 20 Lack. Whether he is covered u/s 44 AD? Whether he has to maintain books of accounts, because his taxable amount u/s 44 AD is less than Net Profit? This is his first time return.
11 December 2014
is he an agent? pls specify in detail.......
12 December 2014
he is doing business of construction then mainting the books of account.
he is trader/commission agent then he can declarer the profit u/s 44AD
he is trader/commission agent then he can declarer the profit u/s 44AD
12 December 2014
Sir
He is not a agent and he is not doing any construction business but he purchase land and divided to small parts and sell it . All transactions are in cash mode there is no bank transactions because it is in rural area and it is only possible to receive sale consideration by cash only...,
He is not a agent and he is not doing any construction business but he purchase land and divided to small parts and sell it . All transactions are in cash mode there is no bank transactions because it is in rural area and it is only possible to receive sale consideration by cash only...,
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