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44AD Applicable on Non Taxable Return.

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(Querist)
26 October 2016 If is say that assessees total turnover is 4500000 but his total income below taxable limit say 248000. is it possible without going through Audit of accounts u/s 44AD
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
27 October 2016 If you don't want to come under audit then you have to shown profit of 8% or more on your gross receipts.i.e on or above 3,60,000/-.
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CA R SEETHARAMAN online

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CA R SEETHARAMAN online (Expert)
27 October 2016 As his income is below taxable limit no need of Tax audit.




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