Sec 44aa,ab,ad
This query is : Resolved
mansuri shabana
(Querist)
19 June 2014
If person maintaing books ofaccount as per Sec 44AA. And not follows 44AD if his profit is lower than 8%. should audit is applicable or not?
Nikhil Kaushik
(Expert)
19 June 2014
if a person is covered under 44AD and his profit is less than 8% (with total income more than exempted limit) then audit is compulsory.
Rupesh Jain
(Expert)
20 June 2014
if his net profit is below 8% on gross sales/receipts then he hove to take audit report from CA.
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