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Taxpayer with Sec 44ADA income seeks advice on scrutiny selection for FY 24-25
T S Khurana |391 Answers |Ask -Follow
Tax Expert - Answered on Mar 05, 2025
A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.
Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.
A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more
Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.
A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more
Asked by Anonymous - Feb 23, 2025Hindi
Sir, tax payer sec 44ada gross income rs:20 lacs profit declared rs:10 lacs f.y.23-24 and gross income rs:16 lacs profit declared rs:10 lacs f.y.24-25 question: Assessess selection of scrunity provision applicable f.y.24-25
Ans: To add Clarity to your Question, It is assumed as under (Figs. Rs.in Lakhs) :
(a). F/Y 23-24 Gross Income Rs.20.00 Profit Declared Rs.10.00 (50.00%);
(b). F/Y 24-25 Gross Income Rs.16.00 Profit Declared Rs.10.00 (62.50%).
If you are asking me, if there could be a Scrutiny of the case by IT Department ?
Yes. Your case may be selected for scrutiny, in routine. There is no special reason that your case may be selected for scrutiny.
Most welcome for any further clarifications. Thanks.
(a). F/Y 23-24 Gross Income Rs.20.00 Profit Declared Rs.10.00 (50.00%);
(b). F/Y 24-25 Gross Income Rs.16.00 Profit Declared Rs.10.00 (62.50%).
If you are asking me, if there could be a Scrutiny of the case by IT Department ?
Yes. Your case may be selected for scrutiny, in routine. There is no special reason that your case may be selected for scrutiny.
Most welcome for any further clarifications. Thanks.
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