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Presumtive taxation on professional receipt

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(Querist)
03 March 2016 If Professional gross receipts is less than Rs.50 lacs;and one does not go for presumtive tax at 50% of gross receipt.In this case whether is it necessary to audit books u/s 44 AB for tax audit or is it necessary to audit accounts. As per budget 2016/17.
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Ankur Singhal

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Ankur Singhal (Expert)
03 March 2016 Dear
Currently no corresponding amendment has been made in section 44AB.
But it is expected that the amendment will be made in finance act 2017.
Till then nothing can be said.
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