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Applicability of sec.44ab

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Gurpreet singh

Gurpreet singh (Querist)
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01 September 2015 An individual assessee having T/O of Rs. 90,00,000 disclosing profit of Rs. 3,00,000 is lable to tax audit or not u/s 44AB, if yes plz elaboarate within the context of law....

Shijith (Expert)
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01 September 2015 kindly refer sec 44ad

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)
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01 September 2015 Liable to tax audit since declared profit is less than 8%. Refer provisions of section44AD

CA SANDESH MAHIPAL

CA SANDESH MAHIPAL (Expert)
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01 September 2015 Yes he is liable to tax audit. Although turnover is less than 1 crore but profit is lower than 8% of turnover, so bound to get his accounts audited.

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