Clause-8 Tax Audit report

This query is : Resolved

nitin gulati (Querist)
Follow

28 August 2023 Mr X turnover 1.50 Lac (all cash) and NP 4.00 Lac in FY-22-23 doing business

Never opted 44AD earlier

and do not want to opt 44AD current year .

Which clause will be applicable as per clause 8 in Tax audit report

1.Clause 44AB(a)- Total sales exceeding specified limits

2.Clause 44AB(a)proviso-

Thanks In Advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

28 August 2023 I assume turnover 1.50 crore (in query it's stated as 1.50 lacs).
In such a case:
1.Clause 44AB(a)- Total sales exceeding specified limits applicable.

nitin gulati

nitin gulati (Querist)
Follow

29 August 2023 Sir
when will we use the clause

1.Clause 44AB(a)proviso-
Kindly clear.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

29 August 2023 Total sales exceeding 1 crore for which tax audit applicable.

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok