Section 44ad

This query is : Resolved 

06 August 2011 One of My client Filed His return of Income having business income without Considering 44Ad, what r the consequences

06 August 2011

1. Whether the Business Income shown in the Return is 8% or more of the turnover or less than 8% .
.

2.Whether the Total Income exceeds the taxable limit or not.
.

Otherwise, If you have filed return on or before the due date you can revise it by
considering the income U/s 44AD.
Do not make any Change in the 4 items
of Drs, Crs, Stock and Cash unless required.

The Income in the return may be higher then it is in the books.


07 August 2011 I agree with the expert


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