Sec 44aa / ab
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2013
an assessee's business turnover for AY 10-11,11-12 & 12-13 is 25lakhs , 45lakhs and
80lakhs.Since for AY 12-13 his turnover has
crossed 60 lakhs assessing officers has the
opinion of imposing penalty u/s 271A and 271B
for failure to maitain books of account and
not funishing audit report u/s 44AB.Is AO's
decision is correct?
80lakhs.Since for AY 12-13 his turnover has
crossed 60 lakhs assessing officers has the
opinion of imposing penalty u/s 271A and 271B
for failure to maitain books of account and
not funishing audit report u/s 44AB.Is AO's
decision is correct?
13 September 2013
I think the opinion of the AO is correct, for the AY 2012-13 U/S 44AB if your turnover exceeds the prescribed limit,
then the maintenance of the books are mandatory..
However, for the 1st to year section 44AD applied.
then the maintenance of the books are mandatory..
However, for the 1st to year section 44AD applied.
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