New limits of Audit & presumptive scheme for businessmen and professionals in Budget 2023

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In Budget 2023 there is new turnover limit for businessmen and professionals under section 44AD, 44ADA to opt for presumptive taxation scheme and limit of Tax audit but with some conditions which are discussed in this video in detail.
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Опубликовано:

21 сен 2024

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Комментарии : 106

@247AroundtheWorld_ 4 месяца назад

Hi. I have few questions: 1. Public Relations & Advertising company can opt out for 44AD? Sole-Proprietor firm. 2. Is it possible to change the %? from 50% to 6% - if all the transactions are digital. in that case, do we need to share books to prove the change of profit.

@krishnadassingha5461 Год назад

Madam very nice lecture 👌 without wasting any time.

@anavgaming191 Год назад

Thoroughly explained.thanks maa'm

@KHUSHI-rh8bj Год назад

Principal Place of Business - Document Upload - Others (Please specify) - Upload a notarised consentletter having recent photograph and KYC documents of the Owner with proper ownership proof. UploadPhoto of the business premises. Mam mene consent letter affidavit ke sath upload kiya tha. Ab kese karna hai.

@Wishyy888 Год назад

Make a notarized leave and license agreement (mention if its rent free) with stamp

@rohitjain613 Год назад

Madam ,can you please inform,What is intraday share trading audit limit for 2023-2024 Thanks

@shivkumarverma9286 Год назад

THNAKS MAM FOR INFORMATIVE VIDEO.

@hemantkalra8769 Год назад

Madam your explanation was superb Madam I want to know one thing this 2 crore to 3 crore turnover in the Section 44 AD is applicable from 1st April 2024 for A.Y 2024-25 and not from this year

@Rahulk-co6ov 5 месяцев назад

Hello, I need clarification on this amendment. From which financial year it is applicable to be 3 crores? Is it applicable for current Audit year 2023-2024 ? Our turnover crossed 2.2 crores, cash receipts are less than 3% . Previous year was under 2 crores so, we did as per 44AD. We don’t wish to get audit done this year. Kindly advise.

@perceiving_it_shrajan_way 9 месяцев назад

Very Well Explained Maam. Thanks a ton

@suryanarayanajayakumar2668 Год назад

Namaste madam Thank you posting most important videos on turnover under Sec44AD I am filing my regular income tax return I am senior citizen I have invested in shares I earn short and long term profit plus intra day trading profit I maintain my account in Tally prime matching all the transactions as per broker P&L This year my turn over is 2 crores will tax audit applicable Profit and loss declared as per statement received from broker I request you to advice Thank you for your educative video 🙏🙏🙏

@biswarupneogi431 Год назад

Thanks a lot..

@Amitchandra266 Год назад

Under which section, either 44AD or 44ADA, does the engineering freelancer's total income of 1.5 crore fall? Additionally, what amount of tax would the taxpayer be required to pay?

@baligapai5979 Год назад

Madam, for doctors who are earning mainly in cash of small amounts given by patients...and less by google pay or phone pay, then if doctors gives bill to patient will it still be cash recepits ?. Does non cash receipt mean digitally transaction always?

@ParidhiJain-f4r 2 месяца назад

Hi, I am eligible for section 44ADA so I am going to file ITR under presumptive taxation section [44ADA] for the first time as I am switching from normal tax provisions to presumptive taxation. I am NOT Maintaining account books for this year but I have manually created a balance sheet and P&L ACCOUNT in excel. Q-1. Do I need to submit balance sheet and P&L ACCOUNT DETAILS along with ITR in order to show how I calculated expenses and profit/gain ? is it required? if yes, how do i submit them ? Q-2. I was maintaining account books from last 10-11 years. Now if I don’t maintain account books for next 5-10 years under presumptive taxation and then switch back to normal tax provisions which requires to maintain account books again, will it screw everything? Will it be a problem for my accountant to create account book because I will not have last 5-10 years account books available? Will he stuck in the absence of last 5-10 years books? OR it is a normal thing in accounting and he will be easily able to create account books without any big problem. Please reply Thanks.

@prajktadalavi5823 11 месяцев назад

Great explanation with example ❤ thanks ma'am

@samsar785 Год назад

Great explanation with examples. Mam, I have a doubt, if after showing 8% & 6% business profit, can I claim deductions under section 80 & 88? Which means profits may go down even further?

@riyajuneja7719 9 месяцев назад

No you can't claim any further deductions

@Parthenglish Год назад

Superb video mam

@naveenbharti3501 Год назад

What is the tax audit limit of company and LLP

@rinklebiswal806 Год назад

Mam i have a doubt regarding section 44AD.....agar business jo hai woh 44AD nahi opt kar raha hai aur turnover b 1 crore se exceed nahi kar raha hai tab bhi mam turnover ka minimum 8% profit show karni padegi kya???

@hiranandgehani3117 Год назад

Perfect analysis

@mdimdad5025 Год назад

very nicely explained...

@vinodbohra1871 Год назад

Mam, if any person turnover exceeds 1 crore but less than 10 crores and cash receipts and payments are also less than 5%, then whether it is compulsory to bring normal profit more than 6 %..kindly clarify. Assessee has not opted for 44Ad IN ANY PREVIOUS YEAR

@anshrawat92111 Год назад

Madam I Have business of Renting of Plant & Machinery from last 5 years i am filling return ITR 4 U/s 44AD but now this time is show error than you have income form rental from plant and machinery file ITR 2 or 3 and let get start button not activate after selecting ITR4

@Natkhat_Laado Год назад

very informative

@kuldeepkishore6506 Год назад

VERY NICE INFO MAM. THANKS

@ValuBizConsultancyPvtLtd Год назад

Very Good Information

@zarahayat7907 Год назад

Mam maine ek partner ship firm banai hjisme mera trunover 72 lakh h or mere bhai ka trunover 55 lakh h or firm ka trunover 44 lakh h to m apni itr kitne ki dalu or apna tax kaise bachau or bhai ki itr kitne ki dalu or firm ki kitne ki dalu please tell me

@ANSHMA505 Год назад

Great video on taxation.....madam you are excellent 👏

@CAGuruJi Год назад

Thanks

@ANSHMA505 Год назад

@@CAGuruJi welcome 🙏

@drsundeepnigam 2 месяца назад

I am a government medical officer I get salary and rs 5 lakhs professional fee and TDS deducted u/s194 jb.. I want to know what receipt /documents/record I need, to take benefit u/s 44ADA.

@iffatnazeer1205 Год назад

Maam if someone is a private contractor basically a small businessman whose income is less than basic exemption limit i.e., 178600/- only so how will his income will be shown in itr 4 Please reply?🙏

@tesuphool Год назад

Thanks, madam for your prompt response. I was told by others that since you have to change from presumptive to actual this fy, then you have to remain in this for another five years. But logically, since this change has been introduced from fy 23-24, no one will be able to shift from actual to presumptive if the income falls within 50-75 lakhs. Will any rules be issued to cover this or under which existing rule it will get covered?

@dhruboadhikary462 Год назад

Dear Madam, I received your mail. thanks a lot. I have already subscribed from day one ( 2017 gst implements)

@vikassachan6501 Год назад

Mam ITD se mail Aya hai income tax return audit karne ko AY2023-24 ka jabki Keval salaries person hu , turnover max 12 lakh h yearly audit karaye ya na karaye

@surojpal8469 Год назад

Madam, Previously I opted 44ADA. But now grosse receipt exceeded 50 lakhs. But now I want opt 44AD showing it as business. Can I do that?

@sunilshetty410 2 месяца назад

Is this 2 to 3 crore applicable to FY 23 24 AY 24 25 Madam

@rakeshgupta3173 Год назад

My turnover is 9800000 and profit is 5% can I file itr under 44AD

@nizargulmani530 Год назад

Thanks Madam

@nituagarwal8965 Год назад

Madam agar tds mai company ko non company mai Dal Jay to kya koi problem ho sakti hai

@mehtaamit9965 Год назад

Tds applicable in case of 44AD return if t.o. is more than 1 crore

@piya8631 Год назад

If i have business income for which I am filling return under presumptive scheme and now i also have another business income that is from future and options so can I continue 44AD for first business and normal PGBP for future and options

@kashifshaikh5248 7 месяцев назад

Mam, I'm a freelancer engineer. Is the section 44ada available in new tax regime? And is the new tax regime is by default now to professionals also? Or we need to change from old. Thanks in advance,

@bhumiljani8456 Год назад

Ma'am ITR 4 fill up karte hai to Bank vale loan denge? Bcz isme kuch hota nahi Account maintain rakhna to

@Faiz19989 Год назад

Ma'am, This Threshold Limit for presumptive taxation is applicable for only Individual and HUF or also for Companies, LLP, AOP and BOI?

@CAGuruJi Год назад

Individual HUF and partnership firms

@Faiz19989 Год назад

Thank you ma'am. Your videos are very informative ❤️

@itsvinitsingh Год назад

Thank you mam

@pareshkhatri2330 Год назад

hello madam, I'm working in television and film industry in production department. Which option should i go for taxation ? please guide. Thank you

@parassethiya1238 Год назад

Mam previously I filed itr under 44ad but previous year 21-22 (a.y. 2022-23) I did not file itr. can I opt this year (a.y. 2023-24) section 44 ad

@jyothishlal3128 6 месяцев назад

Even i am having 30% profit rate can i apply for 44 ad

@satyanarayanagarwal7447 Год назад

एक बार 44AD से ऑडिट में आने के क्या अगले वर्ष वापस 44AD में आया जा सकता है क्या ? कृपया विस्तार से बताएं।

@PreeshaPNJ3 Год назад

5 saal ke bad aaoge ab 44AD me

@navedsabri6661 Год назад

Acha samjhaya aapne

@sachinbuch7147 Год назад

Thank you very much mam god bless you

@pavanclassic9606 Год назад

Madem Please explain 44ADA VS Gst

@priyankachauhan8481 Год назад

Ye course online hoga....??

@Vijay20287 9 месяцев назад

Tex reurn bhare ke kitne charge h

@tesuphool Год назад

Madam my professional income is 60 lakh fy 22-23 and I cannot follow presumptive income this year. Can I change to presumptive during 23-24?

@CAGuruJi Год назад

Yes

@sakshiroy9593 Год назад

Hello Sir, Thanks for sharing the detailed Video I have a question regarding applicability of tax audit for our client. Last year FY 21-22 our client's books of account get audited on account of crossing threshold limited u/s 44 AD. This Year FY 22-23 our client gross receipt is less than 50 lacs, please confirm do we required to prepare tax audit report of our client for this year . Please reply

@mybuzz3630 Год назад

Yes u can opt presumptive scheme but once you opt you hv to follow it for 4 years consecutively meanwhile during this 4 year u can't get ur books audited

@priteshsarkle6074 Год назад

Hello Madam, I am service provider,(Contractor) so what is limit for audit?

@mybuzz3630 Год назад

50 lacs

@sahilm2977 Год назад

Mam I have a doubt should I keep an invoice for presumptive scheme because how will I know my turnover at the end of fy. If there is other than cash transactions we can get to know by bank transaction but in case of cash transactions how???

@DIPAKSINGH-vu5qf Год назад

Good Video on Good Topic....

@rashikarawat1918 Год назад

Mam from where we can download this Memorandum? Can you plz shard the link

@shinderajendra21 Год назад

Hello mam -In capital Gain sale of Residence Flat , Can we purchase Commercial Shop again capital gain

@CAGuruJi Год назад

You can but capital gain exempt nhi hoga

@ganpatbhosale7824 Год назад

Turnover with tax or without tax

@ankushgauniyal2485 Год назад

Hello mam Amendment will take effect from 01.04.2024 or 01.04.2023?

@CAGuruJi Год назад

April 2023

@apurvapurohit8225 Год назад

Excellent

@mohammadrizwan742 Год назад

Thanks Mam very good information

@CAGuruJi Год назад

Thanks

@wellwisher0 Год назад

Mam please always share all pdf's in whatsaap community. Please 🙏

@vikjangid Год назад

Hello Mam, if my turnover is between 3-10crores, do i need to takecare of 6-8% profit criteria as well ? Or i just need to takecare of 5% cash reciept/payment criteria.

@CAGuruJi Год назад

5% bhi dekhna padega