hi,
iam a professional so I like to file my returns under "44AD",and now I like apply for housing loan in future because this is my first filing,does banks accept my returns filed under 44ad, or should I prepare p&l, balance sheet,STI ...PLZ HELP
Thanks in advance
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44ad for house loan
Replies (1)
first of all professionals need to opt fot 44ADA (50% of receipts) and not AD in case of presumptive income. Then it is advisable to file ITR 3 with p&l and balance seet as you can prove your investments later and you can easily get housing loan. But here also if you offer less than 50% receipts as profit you need to get books audited .
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