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Sec 44ae

CA HIREN KAKADIYA (CHARTERED ACCOUNTANT) (21 Points)

21 April 2017

AS ONE OF MY CLIENT HAVING TURNOVER MORE THAN 1 CRORE IN TRANSPORTATION BUSINESS AND HAVING LESS TAN 10 TRUCKS IN AY 2017-18. THEN IF HE SHOW PROFIT MORE THAN LIMIT SPECIFIED IN SECTION 44AE THAN IS HE LIABLE TO GET HIS ACCOUNT AUDITED OR NOT?

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5 Replies

AJAY PANDEY (CA ) (46 Points)
Replied 21 April 2017

HE IS NOT LIABLE TO GET HIS ACCOUNT AUDITED.

Rahul (MT) (102 Points)
Replied 21 April 2017

When he would be liable to get his account audited?

CA CMA Sagar Jaiswal (Finance professional) (665 Points)
Replied 21 April 2017

As per sec 44ae presumptive income is 7500/month he can show profit upto and above the limit. If he want to show less income from limit then he will be liable to audit his account.

syed kalimuddin (article assistent) (75 Points)
Replied 22 April 2017

continuing the point of Mr. Jaiswal, he is also liable to get his account audited if gross turnover exceeds Rs. 2 crore .

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Selvi (Senior HR & Admin) (42 Points)
Replied 02 May 2017

Dear Candidates,

We are looking for young & Bright Chartered Accountant:

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1) Current CTC           :
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Thanks & Regards
Thirumalai selvi S
Senior Executive - HR & Admin

PKF Sridhar & Santhanam LLP
Chartered Accountants
New No 28,Old No 195, 3rd floor |North Usman Road,T.Nagar,
Chennai 600 017 |India | website: www.pkfindia.in
Mobile : 91-8248645525 | Email: selvi.t @ pkfindia.in

https://www.naukri.com/recruiters/thirumalaiselvis-2536262