Sec 44ad
This query is : Resolved
udma vinayak
(Querist)
29 July 2014
whether a firm having nil turnover for FY 2013-14 should go for sec 44AD presumptive tax or Sec 44AB tax audit..The firm is having 250000 loss for the year ?
CA UMESH DULAL
(Expert)
29 July 2014
No
Nikhil Kaushik
(Expert)
29 July 2014
It should go for the audit.
The logic is that where you are claiming less than 8% profit (ie 8% of ZERO), audit is compulsory.
The logic is that where you are claiming less than 8% profit (ie 8% of ZERO), audit is compulsory.
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