applicability of tax audit 44AB
This query is : Resolved
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
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
Aditya Maheshwari
(Expert)
18 July 2011
YOu will have to get your clients accounted audited. No option as profit is less than 8%.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
