E-filing of tax audit report u/s44ad
This query is : Resolved
Prashant Patil
(Querist)
04 June 2013
For turnover below 1Crore we are doing Audit u/s 44AD. Is mandatory e-filing rule also application to such audits?
Thanks
Thanks
Anand Modi
(Expert)
04 June 2013
Yes it is mandatory because Audit report is as per section 44AB
Prashant Patil
(Querist)
04 June 2013
But as per sec.44AB tax audit is applicable if our turnover is more than Rs.1 Crore.
05 June 2013
44AB audit is also applicable for those having turnover < Rs.1 crore and opts for < 8% profit. Please refer section 44AD(5) of the Income tax Act,1961.
Prashant Patil
(Querist)
06 June 2013
Thanks Sir.........
But I heard from my friend that mandatory e-filing is not applicable for such audit. He get this news from "Vyapari Mitra" article of May 2013.
But I heard from my friend that mandatory e-filing is not applicable for such audit. He get this news from "Vyapari Mitra" article of May 2013.
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