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U/s 44ad

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03 November 2011 when assessee file the return u/s 139 regularly but now in this year he filled return u/s 44 ad as he has business of furniture construction.whether it is ok or not
please reply on urgent basis
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
03 November 2011 He can file his Return U/s 44AD. Section 44AD prescribes presumptive method for deciding the income. This Return is also filed U/s 139 as regular return.

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CA Anshu Agarwal

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CA Anshu Agarwal (Expert)
04 November 2011 Return is actually filed u/s 139. The section 44AD prescribes for the presumptive taxation for eligible assessee and eligible business.
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