Audi
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2013
dear sir, if any bussiness less than 8%of profit of gross recipt and turn ovre less than 1 crore then compulsory mantain book of a.c and get audit. suppose firm or propriotor is maintain book of a.c and show less then 8% profit of t.o . then compulsory audit (t.o 60lacks.)
12 August 2013
Section 44AD(5) read with Section 44AB that if an eligible assessee (turnover less than Rs. 1 crore) claims income less than 8% AND his total income exceeds the maximum amount not chargeable to tax then he is required to maintain books of accounts and also get his accounts audited.
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