income tax , Income Tax

[amit kumar]

Dear sir

income tax u/s 44AF and 44AD deduction 80 C 1,00,000/- claim A.Y. 2011-12 and A.Y 2012-13

Posts / Replies

[CA Rachit Agarwal]

Income Tax u/s 44AF-

AY 2011-12: Business Profit @ 5% will be chargeable.

AY 2012-13: In-operative (Will come under 44AD)

Income Tax u/s 44AD-

AY 2011-12- Only business of civil construction or supply of labour for civil construction

AY 2012-13- Any business including supply of labour, sale of goods and others. Contents of 44AF wouldcome under this section and minimum profit to be filed @ 8%

For further clarifications read Finance Act No-2, 2009

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