Section 44 ad - deemed income without mainting books
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 February 2014
SIR,
I AM WORKING AS ACCOUNTANT IN FIRM WHERE I GET SALARY IN CASH WHICH THE FIRM DOES NOT SHOW IN ITS BOOKS OF ACCOUNTS AS EXPENSE.
SHALL I SHOW THE SAME AS ACCOUNTING BUSINESS INCOME U/S 44 AD WHERE I CAN PAY TAX ON 8 % OF THE RECEIPTS OF SALARY ?
PLEASE ADVISE
I AM WORKING AS ACCOUNTANT IN FIRM WHERE I GET SALARY IN CASH WHICH THE FIRM DOES NOT SHOW IN ITS BOOKS OF ACCOUNTS AS EXPENSE.
SHALL I SHOW THE SAME AS ACCOUNTING BUSINESS INCOME U/S 44 AD WHERE I CAN PAY TAX ON 8 % OF THE RECEIPTS OF SALARY ?
PLEASE ADVISE
18 February 2014
well kinky it is. though you are required to maintain the accounts, you can still be asked to show the source of income.
if you are getting in cash, then anyways dont show it. ( i dont like to give this advice but it is still better than claiming 44AD.
if you are getting in cash, then anyways dont show it. ( i dont like to give this advice but it is still better than claiming 44AD.
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