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44ae

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(Querist)
24 September 2015 my friend has bus hiring business which he has given it on contract. His gross receipts for FY 2014-15 is Rs.9250000. TDS has been deducted for above receipts. Is he liable for audit us 44ab or can he file us 44ae
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 September 2015 He is not liable for tax audit u/s 44AB since turnover is less than 1 crore. 44AE applicable only for goods transport vehicle.

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