Audit u/s 44ad

This query is : Resolved

devendra (Querist)
Follow

16 March 2014 My business is trading in food products.. My Gross profit margin is 6%.. My turnover for the FY 2012-13 is Rs.59 lakhs.. My approximate net profit is 2.5 lakhs.. should my books of accounts audited by CA u/s 44AD?.. please help me..

Akash Barman

Akash Barman (Expert)
Follow

16 March 2014 As your Gross Receipts doesnot exceed RS 1 crore,you can opt for PTS u/s 44ad,no audit is required.Presumptive income-8% on GR,however if you claim that your income as calculated as per normal provisions is lower than Presumptive income,Audit BY CA required

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SHUBHANGI GOEL

Pawan Haryani

Samyak Jain

UPENDRAN YADAV

T.N.Reddy

Subscribe Now

Audit u/s 44ad

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANCY

CA Final

Manager- Finance and Compliance

Senior Executive

GST CONSULTANT