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Audit 44 ad

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(Querist)
05 March 2013 propritership firm

turnover rs 25 lacs

net profit rs 1.25 lacs

whether audit u/s 44ad is mandatory
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sushil kumar

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sushil kumar (Expert)
05 March 2013 Dear,
As per sec. 44AD i.e. presumptive basis, we have to show 8% profit. If you show profit less than 8% then you have to maintain books of accounts and audit will be mandatory.

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