Section 44AF

This query is : Resolved

CA PAWAN SETHI (Querist)
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19 November 2008 In last year an individual carried retail trade business and did some job work on which the party deducted TDS

is the assessee is liable to maintain books of accounts or he may show his income on presumtive basis @ 5%

If he shows his income on presumptive basis can he claim TDS deducted by the parties.

Ravikumar.G

Ravikumar.G (Expert)
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19 November 2008 Maintenance of books of accounts is compulsory :

Declaring lower income than as prescribed u/s 44AD/AE/AF/BB/BBB.

Ravikumar.G

Ravikumar.G (Expert)
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19 November 2008 The presumptive income shall be 5% of T.O or receipts or higher sum declared.

TDS can be claimed.

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