U/s 44AB
This query is : Resolved
01 July 2009
Hi,
An Individual Professional was got more than 10 lakhs in the Financial year 2007-08 and he had covered U/s. 44AB so he had filed the Income Tax Returns with 44AB audit report and for the next year i.e., 2008-09 is his income is not more than 10 lakhs so whether he need to file the normal returns or need to file 44AB reports?
Please clarify the same
Regards
Nagaraju
An Individual Professional was got more than 10 lakhs in the Financial year 2007-08 and he had covered U/s. 44AB so he had filed the Income Tax Returns with 44AB audit report and for the next year i.e., 2008-09 is his income is not more than 10 lakhs so whether he need to file the normal returns or need to file 44AB reports?
Please clarify the same
Regards
Nagaraju
01 July 2009
He is not required to file Audit report u/s 44AB. Under Income Tax, each assessment year is treated as saperate assessment year. File normal return.
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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Relief u/s Section 89
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
