If a assessee working in sale or puchase car dealer then what will be shown to be the under the head of income section 44ad or other income.. if the section 44ad applied what will be percentage count for this return and mentioned figures in sale column and profit... pls tell me clarfiy of this return.
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ITR Return Query
Replies (5)
Quick Summary
Is it a Agency Business ?.
Please be specific.
No returns can be filed.
Sec 44AD and other sections are applicable provided...
you satisfy certain conditions....
No returns can be filed.
Sec 44AD and other sections are applicable provided...
you satisfy certain conditions....
No agency only retail business
Usually dealers issue sale invoice in its own name. So it's not Commission income.
44AD option is available till the turnover limit of 2 crores. Above 2 crores, compulsory tax audit under 44AB.
Income is not at all from other sources.
44AD option is available till the turnover limit of 2 crores. Above 2 crores, compulsory tax audit under 44AB.
Income is not at all from other sources.
On sir Thanks so much
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