Cumpulsion regarding sec- 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 July 2013
Respected Members,
Is it mandatory for the assessee to opt for sec 44 AD. Can a assessee claim less than 8% profit if he is maitaining books of accounts if his Sales is less than Rs. 1 crore.And If yes will Tax Audit will b cumposory even if his sales is not exceeding the limit of Sec-44 AB
Is it mandatory for the assessee to opt for sec 44 AD. Can a assessee claim less than 8% profit if he is maitaining books of accounts if his Sales is less than Rs. 1 crore.And If yes will Tax Audit will b cumposory even if his sales is not exceeding the limit of Sec-44 AB
08 July 2013
Yes tax audit will be compulsory on the ground of net profit being less than 8% of turnover which is less than Rs. 1.00 Crore.
.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Is any professional CA is here please reply
- Depreciation of fixed assets- coop housing society in mumbai
- Putting a heading on received mail
- Management System (IMS)
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
