Monetery limit in the case of sec 44ae
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 September 2014
Dear experts, one of the client owning 10 heavy vehicles, is having a contract receipt of Rs.2 crores, and profit as per books is Rs.950000/- Can he offer this Rs.950000/ under 44AE?
And will its book are subject to Tax Audit u/s 44AB?
Pl clarify,
And will its book are subject to Tax Audit u/s 44AB?
Pl clarify,
17 September 2014
no. tax audit wont apply. you will have the option to offer income under 44AE.
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