Audit U/s Sec. 44AD
This query is : Resolved
08 March 2011
Respected Sir,
I have a pan no. and I have three business on my PAN no. each business turnover is 20 lakh per year. Can I liable for Audit.
I have a pan no. and I have three business on my PAN no. each business turnover is 20 lakh per year. Can I liable for Audit.
08 March 2011
If u declare less than 8% profit on the turnover of all business put together audit is mandatory under section 44AB read along with 44AD(5) of the Income tax Act,1961.
08 March 2011
Turnover of all business will be included to calculate the limit.
For further details see following article---
https://www.caclubindia.com/articles/critical-analysis-of-section-44ad-9048.asp
For further details see following article---
https://www.caclubindia.com/articles/critical-analysis-of-section-44ad-9048.asp
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