44ad
This query is : Resolved
06 September 2015
Dear Experts, please breif these provisions.
Does the assesse need to comply with both 44AA and 44AD Sections?
If an assesse who opts 44AA , then is it mandatory to Audit u/s 44AB if declaring profit less than 8%?
Is 44AD mandatory or Option available to assesse?
Regards,
Manoj
Does the assesse need to comply with both 44AA and 44AD Sections?
If an assesse who opts 44AA , then is it mandatory to Audit u/s 44AB if declaring profit less than 8%?
Is 44AD mandatory or Option available to assesse?
Regards,
Manoj
06 September 2015
1 If 44AD is opted no need to comply with 44AA.
2 It is mandatory for 44AB audit if profit less than 8% declared and total income is above basic exemption limit.
3 44AD is optional.
2 It is mandatory for 44AB audit if profit less than 8% declared and total income is above basic exemption limit.
3 44AD is optional.
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