44ad related
This query is : Resolved
vibhor vijay
(Querist)
16 December 2015
My Client having turnover 50 Lacs Approx. & as per 44AD profit should be 4 lacs but if he want to declare profit below taxable limit i.e. 2 Lacs whether Tax audit is Compulsory ?
And in Same Case any provision which is conflicted with 44AD Compulsory Audit ?
And in Same Case any provision which is conflicted with 44AD Compulsory Audit ?
Ankur Singhal
(Expert)
16 December 2015
dear you have to go for tax audit if you want to show profit below 8%. It is mandatory to do so.
In such case you have to maintain proper books of accounts.
In such case you have to maintain proper books of accounts.
CA R SEETHARAMAN
(Expert)
16 December 2015
No tax audit is required if your total income below basic exemption limit.
Ankur Singhal
(Expert)
17 December 2015
Mr. Seetharaman
Sir PLS refer section 44AD
Sir PLS refer section 44AD
CA R SEETHARAMAN
(Expert)
18 December 2015
Mr. Ankur Singhal refer the provisions of section 44AB.
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