44ad v/s 44ab

This query is : Resolved

Chirag Agrawal (Querist)
Follow

25 July 2014 Whether audit is required in following case or not,the case is the aseessee has a turnover of Rs 545200 and making the loss in current year so whether audit required or not,
also guideon provision related to 44AD(5)

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

25 July 2014 if its business then gross turnover should exceed rs 100 lakhs to attarct 44ab tax audit

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

25 July 2014 Dear Chirag,

if this is an individual, then no audit is required persay provided there is no other income such salary which is not adjustable against business loss.

in case of partnership firm, audit shall be compulsory

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

manojkumarkk

Aakash Kumar

ANUPAMA L KANT

Sharang Sanjay Mangalekar

RAGHUNATH KASIBHOTLA

Subscribe Now

44ad v/s 44ab

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA