U/s 44ad
This query is : Resolved
hemlata p. soni
(Querist)
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
please reply on urgent basis
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.
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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