Sec 44af are connected with sale tax return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 August 2015
Sir, one of the my client earned income from Tractor & water tanker & i shown such income u/s 44AF. THERE IS NO NEED OF MAINTAIN OF BOOK BUT IN CASE OF SALE TAX WHEATHER THERE IS NEED TO FILE VAT RETURN & MAINTAIN BOOK OF ACCOUNT IN WHAT CIRCUMSTANCES
14 August 2015
income grom tractor and water tanker is NOT exigible to VAT. It is liable for SERVICE TAX. So please check the limit of service tax.
And one more point : 44AF does NOT say dont maintain books of accounts. What it says is Income Tax department will not ask for "books of accounts" A man of ordinary prudence will always keep the accounts although they may not be in the form as specified by section 44AA or like.
And one more point : 44AF does NOT say dont maintain books of accounts. What it says is Income Tax department will not ask for "books of accounts" A man of ordinary prudence will always keep the accounts although they may not be in the form as specified by section 44AA or like.
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