CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 05 November 2013
Dear Sir,
you must be talking about 44AD... as sec. 44AB (which you cited here requires audit), but as you are saying, you have annual turnover less than Rs. 1 crore in a year, and tax audit is not required.. so, you can file return u/s 44AD (presumptive taxation) and maintenance of books are not required in such case... provided you quote net profit during the year to be more than 8% of receipt...
Best Regards,
CA Lovely Arora
ca.lovelyarora @ gmail.com
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