Inquiry about section 44ad & 44ab
This query is : Resolved
04 August 2011
If turnover of eligible business is less than Rs.60Lacs then Section 44AD will applicable otherwise section 44AB (tax audit) will applicable
CA Ashwani Agarwal
(Expert)
04 August 2011
44AD will apply to businesses only if you show profit of more than 8% of turnover and turnover is below 60 lakhs.
Otherwise 44ab will apply.
Otherwise 44ab will apply.
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