Section 44AD
This query is : Resolved
18 September 2008
Dear Team,
If an assessee has filed his income tax return for assessment year 2004-2005 and 2005-2006 before due date in the past and declared his income u/s 44AD @ 8% on his gross receipts and came to know today he had not undisclosed some receipts in those returns, can he file revised return for these assessment years today. Please confirm.
Also, he had not filed the returned for assessment year 2006-2007 and 2007-2008 till now. What would be time limit to file the income return for these assessment years and can he incorporate the undisclosed receipts for previous years in AY 2006-2007 return?
Please clarify and revert.
Thanks & Regards,
Milind Telawane
If an assessee has filed his income tax return for assessment year 2004-2005 and 2005-2006 before due date in the past and declared his income u/s 44AD @ 8% on his gross receipts and came to know today he had not undisclosed some receipts in those returns, can he file revised return for these assessment years today. Please confirm.
Also, he had not filed the returned for assessment year 2006-2007 and 2007-2008 till now. What would be time limit to file the income return for these assessment years and can he incorporate the undisclosed receipts for previous years in AY 2006-2007 return?
Please clarify and revert.
Thanks & Regards,
Milind Telawane
18 September 2008
time limit for revised return has elapsed for a.y 2004-05 & 2005-06.
time limit for filing of return has also elapsed.
but u can file the return for a.y 2007-08 till 31/3/09.
time limit for filing of return has also elapsed.
but u can file the return for a.y 2007-08 till 31/3/09.
19 September 2008
Please advise the course of action to be followed to regularise the income tax returns for AY 2006-2007 and 2007-2008.
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- TDS on TRUST
- Consolidated financials
- Putting a heading on received mail
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
