Can any one tell me whether Section 44AF has been withdrawn from Assessment Year 2011-12. If yes then can we file return uunder no account case. Its urgent.
ejaz naiyer (C.A. FINAL) (293 Points)
25 June 2011Can any one tell me whether Section 44AF has been withdrawn from Assessment Year 2011-12. If yes then can we file return uunder no account case. Its urgent.
Dinesh Kumar Agarwal
(Article clerk)
(117 Points)
Replied 25 June 2011
Section 44AF is substitued by Section 44AD.
Thus section 44AF is became inoperative for the assessment year beginning on or after 1st April, 2011.
RAJ KUMAR
(FINANCE MANAGER)
(1393 Points)
Replied 25 June 2011
YES U CAN FILE UNDER SEC 44 AD OR U CAN ALSO FILE ITR-4 UNDER NO ACCOUNT CASE BUT IN THAT CASE U HAVE TO SHOW BUSINESS INCOME LESS THAN RS. 120000 AND BALANCE U HAVE TO SHOW ANY OTHER INCOME.
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