44ab
This query is : Resolved
SAURABH ARORA
(Querist)
01 January 2015
hi sir
if my sales is 38 lacs and my profit is 2.80 lac whether i am required to get my books of accounts audited under section 44 ab (d) despite of the fact i am able to get a deduction of 1 lac u/s 80C
Ketan Shah
(Expert)
01 January 2015
In the above case the you are liable to get the books of accounts audited since you have declared profit to be lower than the rate specified u/s 44AD and your income exceeds maximum amount not chargeable to tax.
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