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?
19 August 2011
if you want to declares profit less than 8% than you have to go for audit your accounts from a CA.
19 August 2011
Agreed with Amit
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