Sec 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2017
A person who is eligible to opt for the presumptive taxation scheme of section 44AD (*) but claims the profits or gains for such business to be lower than the profits and gains computed as per the presumptive taxation scheme of section 44AD and his income exceeds the amount which is not chargeable to tax. PLEASE EXPLAIN , am showing income of 396750 which is more than 8% of my t/o .....but s/w shows that u are subject to audit u/s 44AB , i got notice u/s 139(9) which is for wrongly stated business code. ay 16-17, whether i have to do audit u/s 44ab or upload u/s 44ad. originally i uploaded return as per sec. 44ad but got above notice (u/s 139(9)).
Amol S Joglekar
(Expert)
06 July 2017
which assessment year you are referring?
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