Audit under section 44ab of the income tax act 1961
This query is : Resolved
27 September 2013
Is audit required to be conducted u/s 44AB of the Act- When the turnover of the assesse in the previous year is below the limit specified in the section (i.e Rs. 1Crore) and the aseesse maintains proper books of accounts but its taxable profit is below 8% of the turnover?
29 September 2013
Dear Sunny,
If you wish to claim profits at less than 8%, then the audit under 44AB(d).
If you wish to claim profits at less than 8%, then the audit under 44AB(d).
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