Professional turnover
This query is : Resolved
11 July 2018
Sir,
my friend is doctor he had shown gross receipts 16lakhs and Net profit shown 12% for the Ass year 2017-18 and he submitted as per accounts maintained
One auditor raised the doubt he shown less than 50% and his accounts get his audited as per section 44ADA is it correct or not
Turnover limit is below audit and maintained accounts and shown profit 12%
please kindly explain
Thanking you
my friend is doctor he had shown gross receipts 16lakhs and Net profit shown 12% for the Ass year 2017-18 and he submitted as per accounts maintained
One auditor raised the doubt he shown less than 50% and his accounts get his audited as per section 44ADA is it correct or not
Turnover limit is below audit and maintained accounts and shown profit 12%
please kindly explain
Thanking you
11 July 2018
Auditor's view is correct. Also see https://www.caclubindia.com/experts/gross-receipts-audit-limit-2672564.asp
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