A sole properitor file his return under sec 44AD can he is claim for deduction under chapter VI.
kindly suggest me.
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Deduction related
Replies (13)
Yes he can claim deduction u/s chapter VI as he file his return as individual showing business income
Yes he can....
Yes he can claim deduction under chapter VI
Yes... He can claim that deductions...
yes he can claim
person declaring income under presumptive taxation 44AD is eligible for deductions u/c VI.payment of advance tax is also not applicable.Return form ITR-4S
Ansari if my tax liability is 》 10k and return filed under sec 44AD then advance tax liability will be arise or not??
Required advance tax if your tax liability exceeding 10k.
If u file your return u/s 44AD and tax is above Rs 10k then advance tax liability is payable in last quarter i.e March
If your total tax liability is more than Rs.10000/- then you have to pay advance tax upto 15 March.....
only one time payment of whole amount of advance tax i.e on or before 15th march of the P.Y
YES, ALLOWED !!
HOWEVER DEDUCTION FROM 30 TO 38 IS NOT ALLOWED AND DEEMED TO BE ALLOWED TO ASSESSEE
Yes he can claim the deductions under Chapter Vi-A.
Also he has to pay advance tax since his tax liability is above 10k
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