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applicability of tax audit 44AB

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(Querist)
18 July 2011 dear sir,

one of my client has 5600000/- of turnover but he has only profit of 250000/-

as per rules presumptive taxation 8% of gross receipts is to be total taxable but he has less than that total 8% of receipts

is his books is to be audited u/s 44AB

plz reply

thanks
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
18 July 2011 YOu will have to get your clients accounted audited. No option as profit is less than 8%.
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