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Itr return

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(Querist)
12 March 2013 Dear sir/Madam

agar kisi ki gross receipts 50,00,000 hoo to audit hogi but uske expenses hame kese show karenge or jis par 500000 tds deducted huva hai to muje kses uski return filled karni chaye tell me.
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sushil kumar

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sushil kumar (Expert)
12 March 2013 Dear Pradeep,
There is no need to audit and maintenance of books of accounts if You file the return u/s 44AD i.e. presumptive basis and show 8% profit.
Interest on capital and remuneration will be allowed if it is partnership firm.
if the profit show below 8% then audit will be compulsory and maintenance of books of accounts mandatory.
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pradeep

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pradeep (Querist)
12 March 2013 Dear Sir,

AGAR tds u/s 194H AND 194D i.e. brokerage commission and incentive received rs.50 LAKH,Then audit requriment or u/s 44AD liablity is aplicable or not.
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