Sec 44 ab and sec 44 ad (urgent please)
This query is : Resolved
22 April 2013
Dear Sir
If the 8% of Gross receipts is more than 1 Crore then whether the assessee is required to do Tax Audit U/S 44AB
Thanks
If the 8% of Gross receipts is more than 1 Crore then whether the assessee is required to do Tax Audit U/S 44AB
Thanks
CA Vikas Acharya
(Expert)
22 April 2013
when gross receipts exceeds 1 crore, then why to check this 8% limit, already became liable for tax audit.
8% is required to be check when the receipts is less than 1 crore and audit is not required, in that case presumptive basis income must be more than 8%
8% is required to be check when the receipts is less than 1 crore and audit is not required, in that case presumptive basis income must be more than 8%
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CA VISHNU GAVKARE
(Expert)
24 April 2013
Agree with Vikas
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