44ad

This query is : Resolved

Nimma. Manoj kumar (Querist)
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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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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.