Presumptive tax as per finance bill 2016
This query is : Resolved
29 March 2016
Whether a practicing CA whose gross receipts are below Rs.50 lacs and his profits are less than 50% of gross receipts. In this case whether he has to get his accounts audited u/s 44AB for Tax Audit ? He maintains books of accounts.
29 March 2016
DEAR
IF YOU DO NOT OPT FOR SECTION 44AD THEN YOU NEED TO MAINTAIN BOOKS SO THAT THESE CAN BE AUDITED TO SHOW THE ACTUAL PROFIT.
IF YOU DO NOT OPT FOR SECTION 44AD THEN YOU NEED TO MAINTAIN BOOKS SO THAT THESE CAN BE AUDITED TO SHOW THE ACTUAL PROFIT.
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