16 December 2015
My Client having turnover 50 Lacs Approx. & as per 44AD profit should be 4 lacs but if he want to declare profit below taxable limit i.e. 2 Lacs whether Tax audit is Compulsory ? And in Same Case any provision which is conflicted with 44AD Compulsory Audit ?
16 December 2015
dear you have to go for tax audit if you want to show profit below 8%. It is mandatory to do so. In such case you have to maintain proper books of accounts.
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