section 44AA
This query is : Resolved
25 July 2017
dear sir,
When section 44AA will applicable and if tax payer applicable under section 44AA, he can show his business profit under section 44AD?
Amol S Joglekar
(Expert)
25 July 2017
44AD/44ADA benefits can be availed if the assessee satisfies the conditions as set out in the said sections, irrespective of the fact that 44AA is applicable
25 July 2017
my business turnover is not exceeds 2 crore and profite showing more than 8 percent and from previous 5 years I am furnishing income tax return u/s 44AD, NOW I received defective notice u/s 139 (9) they asking balance sheet and p&l as per 44AA.
Amol S Joglekar
(Expert)
25 July 2017
which ITR did you file?
It seems that you OR your CA or Tax consultant have chosen "No Account Case" rather than using ITR SUGAM form.
Is that so? Please inform
It seems that you OR your CA or Tax consultant have chosen "No Account Case" rather than using ITR SUGAM form.
Is that so? Please inform
Dhirajlal Rambhia
(Expert)
18 October 2021
No need of BS & P&L account, provided income declared u/s. 44AD; but certain mandatory details are required to be filled.
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