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section 44 AD interest income
one of my client bussiness closed in 17-18 later in 18-19 f y he received interest with TDS of 1800000 and he paid interest of 1950000 now CA is saying that he would declare in 44ad as gross receipt with 6% taxation whether it is correct or not if not what is the correct procedure
Replies (3)
Better not to show under 44AD
Net interest income is only 150000/-
File ITR3
Hope you carry lending license.
Net interest income is only 150000/-
File ITR3
Hope you carry lending license.
sir you mean to declear in income from other sources in itr 3
No sir I don't mean to declare under other sources. You declare it as business profit under ITR3 alongwith complete BS and P&L Account.
I hope this is your business activity
I hope this is your business activity
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