Whether 3cb and 3cd are mandatory here??????
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 September 2013
Hello Experts,
Mr A is a Stationery Shop Keeper. His Total Sales for the year 2012-13 were Rs 98.00 Lakhs. He wants to file ITR. He has maintained detailed books of accounts. Profit as per Books arrived at Rs 4.70 Lakhs. If he opts for Presumptive Taxation Scheme (Sec 44AD), his taxable income would be Rs 7.84 (Rs 98.00 Lakhs * 8%), which is not agreeable to the Proprietor.
Kindly let me know whether Sec 44AD is applicable in his case and if he wants to declare Rs 4.70 Lakhs, whether he is bound to get his books audited u/s 44AB. Is it compulsory for him to e-file Form 3CB and Form 3CD before 30.09.2013 if he do not opt for presumptive taxation.
plz reply
See Discussion: http://goo.gl/oKAuUR
Mr A is a Stationery Shop Keeper. His Total Sales for the year 2012-13 were Rs 98.00 Lakhs. He wants to file ITR. He has maintained detailed books of accounts. Profit as per Books arrived at Rs 4.70 Lakhs. If he opts for Presumptive Taxation Scheme (Sec 44AD), his taxable income would be Rs 7.84 (Rs 98.00 Lakhs * 8%), which is not agreeable to the Proprietor.
Kindly let me know whether Sec 44AD is applicable in his case and if he wants to declare Rs 4.70 Lakhs, whether he is bound to get his books audited u/s 44AB. Is it compulsory for him to e-file Form 3CB and Form 3CD before 30.09.2013 if he do not opt for presumptive taxation.
plz reply
See Discussion: http://goo.gl/oKAuUR
21 September 2013
Yes. In this case the audit shall be applicable. It shall be compulsory to file the tax audit report online.
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