Sec 44ad urgent
This query is : Resolved
22 July 2013
One of the assesse was filing return u/s 44AD for the past two assessement years declaring an income from business at the rate of 10.14% Now the assesse wants to quit the scheme and wants to file under normal provisions, he has turnover of rupees 18 lakhs.Can he do so? If yes what will be the consequense ? Advise required
22 July 2013
Yes he can opt out of scheme and to file ITR 4 and have to declare profit @8% or above
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
- Clarification on Old to new regime - 10-IEA
- Capital gains-24.06.2025
- MP Minimum Wages Act
- REGARDING CAPITAL CONTRIBUTION BY PARTNER
- AIS reflecting Aggregate interest on kvp, not accrued .
- Expenses related
- FNO transaction not reflecting AIS
- Return forms related
- TWO GST REGISTRATION FOR SAME BUSINESS
- CAPITAL GAIN TAX FOR PARTNERSHIP FIRM
- How Can I get Professional Company Profile Designer in UAE
- Notice under section 143(2) of the Income-tax Act, 1961
- E-way bill GST
- Accounting For Mediclaim Reimbursement To Employees
- PTEC Name Change
- GSTR 1 filled with 40 lakh tax liability but GST 3B filed with nil taxable value
- Regarding Interest on Enhanced Compensation
- Whether in Notes to accounts shown as
- New GST Registration with 02 company
- In elgible ITC claimed in FY 2021-22 & 2022-23 is it to be paid through DRC03 or to reverse it
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
