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Cumpulsion regarding sec- 44ad

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Querist : Anonymous

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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
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
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.
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