24 March 2013
According to the companies act each and every company must and should be required to maintain regular books of accounts So for company assessee always Section 44AA is Yes(applicable).
Whose gross turnover/receipts exceeds the turnover indicated in section 44AB is must and should be required to make their books of accounts tax audit u/s 44AB for such case section 44AB is Yes(applicable). Thus in your case your sales is Rs.80,00,000 i.e for A.Y 2012-13 tax audit limit tunover is Rs.60,00,000.
So for your case both 44AA and 44AB applicable.
As well as according to the section 44AA whose turover exceeds Rs.10,00,000 in any of the immediate three previouse years to the current year or likely to be exceed Rs.10,00,000 in the current year then required to maintain regular books of accounts u/s 44AA. So under this aspect also section 44AA applicable to your case.
25 March 2013
It may not be problem but while processing of your return CPC will not allow the such loss for carry forward to next years. So in case if any problem faced then we decide what we do to solve that based on the nature of the problem indicated by the CPC.
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