Sec 44AD -First you have to make clear that what is the sales Turnover for the year from 1.4.2013 to 31.3.2014.
on that T O u can declare 8% or more net income in ITR 4S. It is better to maintain purchase Register, sales Register and stock Register.
Originally posted by : jagadish hiremath | ||
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Sec 44AD -First you have to make clear that what is the sales Turnover for the year from 1.4.2013 to 31.3.2014. on that T O u can declare 8% or more net income in ITR 4S. It is better to maintain purchase Register, sales Register and stock Register. |
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1. sir my sales for the year 1.4.2013 to 31.3.2014 was arround 40,00,000
2. and sir please tell me that maintaining the books of account is compulsary or not
because i dont have any VAT number yet
3. and is the VAT number needed for filing return u/s 44AD
4. And please tell me what circumstance i need to get the VAT Number.
1. NP @8% on TO Rs.4000000/- is Rs.320000/-
2. Not required to maintain the books of accounts and u have to take VAT number
3.There is no specific provision u/s 44AD for obtaining VAT number for filing IT return. It is better to take VAT number. The Turnover may be proved as per VAT Returns
4.I do not know your place of business in which state you are residing. You may contact your Local VAT Office.
Originally posted by : jagadish hiremath | ||
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1. NP @8% on TO Rs.4000000/- is Rs.320000/- 2. Not required to maintain the books of accounts and u have to take VAT number 3.There is no specific provision u/s 44AD for obtaining VAT number for filing IT return. It is better to take VAT number. The Turnover may be proved as per VAT Returns 4.I do not know your place of business in which state you are residing. You may contact your Local VAT Office. |
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Sir if i show more sales 50,00,000, and according to @8% my ITR will become 420000,
so please tell me the following,
1. if i file ITR of 420000, then do i neet to maintain any books of account, as frankly saying i did not maintain any books of account but i want to File ITR,
2. If i do not take VAT Number and and Do not maintain any books of account and still wants to file ITR of Rs. 420000 , is he there any kind of problem in that
You can declare Total Turnover up to 1crore and not above as per Section 44AD
1.Declaring income u/s 44AD is exempt from maintenance of books of account related to business as required u/s 44AA
2.At Least you may keep Sales Register. If cross verification of Turnover made between IT Dept & Comml Tax Dept, then it would problem to you. U may file I T Return even without VAT number.
My suggestion to you is it is better to take VAT number. For declaring income u/s 44AD consult your CA or Tax Advocate in your area or contact me on 9448751758
Originally posted by : jagadish hiremath | ||
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You can declare Total Turnover up to 1crore and not above as per Section 44AD 1.Declaring income u/s 44AD is exempt from maintenance of books of account related to business as required u/s 44AA 2.At Least you may keep Sales Register. If cross verification of Turnover made between IT Dept & Comml Tax Dept, then it would problem to you. U may file I T Return even without VAT number. My suggestion to you is it is better to take VAT number. For declaring income u/s 44AD consult your CA or Tax Advocate in your area or contact me on 9448751758 |
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Thanks a lot sir, thanks very very much, really great help from you,,
From where do you belong , if i want to call you atleast i should know