44af

This query is : Resolved

Shaik Shair Ali (Querist)
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07 December 2012 Dear Sir,

1) Is it possible to give details of Auditor in ITR Form for 44AF Cases? i have tried but not possible?

2) Is digital signature necessary for 44AF cases?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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08 December 2012 Firstly, Section 44AF is not applicable anymore.

Further, if you are filing a return for any previous year, then eligible assessee u/s 44AF is NOT required to get his accounts audited and accordingly auditor details are NOT required.

Digital signature is NOT mandatory for filing return u/s 44AD/AE/AF.

Shaik Shair Ali

Shaik Shair Ali (Querist)
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10 December 2012 But what if Net Profit is less than 8% of Turnover?

Prakash Kochar

Prakash Kochar (Expert)
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11 December 2012 Till AY 2010-11 sect. 44AF was applicable.
From AY 2011-12 sect 44AD is applicable.
In case net income shown is below the prescribed percentage, has to get accounts audited u/s. 44AB.In ITR details of auditor is required.
Digital signature is not necessary (optional)for cases covered u/s. 44AF/AD/AE.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 December 2012 If the income is declared less than 8% then normal provisions are applicable and accordingly ITR 4 will have to be filed. Then you can enter the details of the auditor.