44ab audit
This query is : Resolved
02 November 2014
I AM BUS OPERATOR WITH 6 BUS WITH TOTAL COLELCTION OF RS 48 LAKHS WHETHER I SHOULD GET MY BOOKS AUDITED UNDER 44 AB OR I CAN DECLARE PRESUMPTIVE INCOME OF RS 2 LAKHS PER YEAR PER BUS PLEASE GUIDE ME
02 November 2014
you can offer presumptive income on this. Audit is not applicable as turnover is below 44AB limits
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