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
1 Replies
mrunal
(student)
(41 Points)
Replied 25 July 2018
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 .
Recent Topics
- Amount withdrawn from capital gain account scheme
- TDS RETURN REJECTED with Reason Line no 2 –
- Issue in e_filing of IT return
- New India Coop Bank Frozen Account
- GST Registration for export of services under sec2
- Exemption Available or not under new tax regime
- Loss on F & O
- FCNR DEPOSIT INTEREST EARNED REPORTING IN ITR2
- Rectification of tDS
- Interest from SCSS in ITR
Related Threads
Trending Online Classes
CAclubindia
