Section 44AD

I think wrongly understand the sec...

it's furnishing return and the due date of the PYs return...

Whatever bt its better to show the receipt in the next subsequent year so that Rate will be 6% instead of 8%

How is it possible...?!!!

Can You elaborate...?

Suppose the individual has sales of 90,00 000 and out of which 70 00 000 lac received before 31.7.2020 and remaing 2000000 received after 31.7.2020.All the payment received in cheque. so now the rate for 7000000 is 6% and for 2000000 is 8%. Its better to show remaining 2000000 in the next A.Y. so that it attract rate of 6%

Are You aware the FY dates from & to...?

Are You know what is I. sec 139(1) of IT act...?

What You mean 31/07/2020 and

Which period will be the due date of 31/07/20 ...?

As per Your details the total income will be file FY 20-21 (as AY 21-22) and due date of filling the said period is 31/07/2021***

(out of which 70 00 000 lac received before 31.7.2020) before means date from....?!

Leave i think u didnt understand my query properly

No No No...

You can't ask Your query properly and You are not aware the date of u/s 139(1). The sec 139(1) which is PY's accounts related...

Its mean as per sec 139(1) the due date is 31st July which is PY's transactions...

As per Your reply(question) 31/07/2020...

In case You ask its a income period then then it's from 01/04/2020 to 31/03/2021...

In case it's due date then it's from 01/04/2019 to 31/03/2020...

As Your profile You are in PRACTICE...

As per Your query I reply simply as No...
Bcoz, Income period can't be across next year dates... Right...?


Please be aware due date & periods of income dates...

Please read "across" as "Accountable"... (typo error)

My query is related to A.Y. 20-21 (P.y.19-20)
and wt u hv told that i dont know section 1391)
section 139(1) lay down the provison of filling ROI
and if u want to know or discuss more thn u can personally text me

Dear.,

If You are asking FY 19-20 then why/how the incomes include as per You for the date of 31/07/2020...

Section 44AD does not encourage the credit sales of longer periods as it says that if assessee has not received the amount before due date specified under section 139(1) , then his income will be deemed at a higher rate as 8% and not 6% of the sales amount

You can not postpone booking of sales as you follow mercantile system. Your suggestion is valid but right now section doesn't permit that.
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Suggestion is already with CBDT .....

Government should come with another amendment in section 44AD that sales/turnover amount which is not received before due date specified under section 139(1) but subsequently if in any financial year that amount is received digitally, then deduction of 2% (of following sales amount which is received) can be taken in computing the total income of the assessee in the financial year in which amount is actually received.

So if someone has received Rs 500,000 pertaining to FY 16-17 digitally after 31st July 2017, then deduction of Rs 10000 should be given to the assessee in AY 18-19.

Mr. Kapadia Pravin ji.,

Mr Dipesh Jha asking FY 19-20 related incomes return. But, he is also include up-to 31st July 20 th income. bcoz, it's FY 20-21 incomes...