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Yash Agarwal asked 1 year ago

Cnp 528- Clause 12 reporting is required if the income contains any income taxed on presumptive basis, but in the question since the assessee claims income lower than 44BB , why is the reporting under clause 12 required?

2 Answers
RaviRavi Staff answered 1 year ago

dont mix 44AD / 44ADA
and 44BB
44AD / 44 ADA, says if you are showing income below basic exemption limit then audit not required even if you are showing below presumptive basis income
44BB says audit is mandatory if you show income below presumptive basis income and there is no exemption to this

RaviRavi Staff answered 1 year ago

it this case tax audit is applicable 
and clause 12 reporting is relevant

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