44ad subsection (5)
This query is : Open
24 August 2014
Individual resident having gross turnover of 50 lac and a profit of 1 lac only. I;e 2%. Lower than basic exemption.
Is he required to get his books audited????
Kindly explan with reference of sec 44AD(5).
Is he required to get his books audited????
Kindly explan with reference of sec 44AD(5).
25 August 2014
a bare reading the section suggest that audit is not required. but Income-tax department do often send notice for audit
25 August 2014
Kindly suggest what should be done as being a professional. On one hand person earning upto basic exemption is outside the purview of tax and on other hand person earning less than basic livelihood is compel to face the expenses of accounts preparation and audit expenses.
Kindly suggest yours expert view to counter the department.
Kindly suggest yours expert view to counter the department.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- Multiple payment of self assessment tax for A Y 2025-2026
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- Short Term Gain Reporting ITR
- ITC BENEFIT ON BROKRAGE PAID
- Query regarding reporting of exempt foreign remuneration in ITR
- Taxation on Old jewellery sold
- TDS refund Indemnity Bond
- Gst reverse charge mechanism to be claimed in the month of payment
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
