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Querist : Anonymous

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Querist : Anonymous (Querist)
17 August 2011 dear sir,
one of the assessee having whole sale medical business. his total turnover during the year is 40 lacs and net profit rs 125000 only.
Is he liable to audit?

17 August 2011 below 3.2 lacs taxable income(8% of 40 lacs), he is liable to get audited u/s 44AB

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 August 2011 but sir, his income is below taxable (rs 125000 only). IF we apply 44ad (5) then what he have to do?


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