Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

audit U/s. 44AB & Sec. 44AE

Save Share

This query is : Resolved

Nilesh Bagore (Querist)
Follow

09 June 2010 Dear all
1. the Assesee is engaged in business of scrap having turnover of Rs. 2 Crores therefore audit U/s. 44AB is compulsory
2. the same assessee is also engaged in business of hiring of goods carriers. all the pre requisites of sec. 44AE (Presumtive taxation ) are satisfid.
3. so my query is, as audit u/s. 44 AB is assessewise & not businesswise then it is necessary to maintain books of accounts of hiring of goods carrier business which is otherwise not required by law
4.Does presumptive taxation sections e.g. 44AD, 44AE, 44AF etc. has overriding effect on Sec. 44AA & 44AB ( maintenance & audit of books ) ?
5. any citations will be appreciated
thanks

CA Punit

CA Punit (Expert)
Follow

09 June 2010 Goto the following link for answer to a query similar to yours........

https://www.caclubindia.com/experts/44ab-tax-audit-of-2-separate-business-by-an-assessee-402085.asp

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now