Sec 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 October 2011
when total income under sec 44ab is rs 140000
total income u/s 44ad is rs 350000 (no deduction )
whether assessee can opt 44ab without form 3cd & 3cb?
total income u/s 44ad is rs 350000 (no deduction )
whether assessee can opt 44ab without form 3cd & 3cb?
10 October 2011
No the assessee has to get his accounts audited and the report has to be submitted in FORM 3CB And 3CD.
10 October 2011
1. If u plan to file return with Rs. 1,40,000/-as taxable income and the status is individual, no need of tax audit vide section 44AD(5) thereby no form 3CB and 3CD is required.
2. If u plan to file return with Rs.3,50,000/- as income, again 44AB audit is no required because the said amount is 8% of turnover of Rs. 43,75,000/- which is less than the threshold limit meaning thereby no need of form 3CB and form 3CD.
2. If u plan to file return with Rs.3,50,000/- as income, again 44AB audit is no required because the said amount is 8% of turnover of Rs. 43,75,000/- which is less than the threshold limit meaning thereby no need of form 3CB and form 3CD.
Message likes :
1 times
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- Last year TDS Claim
- Long Term Service award taxability in hands of company
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- STCG FOR GOLD ETFs
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
