Requirement of audit u/s 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 August 2011
One retailer's annual sale is 50 Lac and he maintains books of accounts. If he presumes section 44AD and declares less profift less than 8%. Can he declare his actual income on the books of accounts without going into audit of accounts?
CA Amit Joshi
(Expert)
19 August 2011
if you want to declares profit less than 8% than you have to go for audit your accounts from a CA.
taxindiaconnect
(Expert)
19 August 2011
Agreed with Amit
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