44ab & 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 August 2018
One Of My Client Had Turnover Rs-10600000 & Net Profit Rs-910000 (More than 8%). Then In this Case It is Compulsory to Get Books Of Account Audited U/s 44AB & Then File Return OR File Return Without audit (As Profit Is More Than 8% As Per 44AD ) . I Confused Please Guide me .
06 August 2018
Can opt 44AD provided you are an 'eligible assessee' and doing an 'eligible
business' as defined in the said section.
business' as defined in the said section.
Nikhil Kaushik
(Expert)
07 August 2018
audit won't be required in this case. just offer under 44AD. File ITR-4 if possible.
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