Sec 44AD and tax audit u/s 44AB
This query is : Resolved
23 September 2019
Sir/madam,
Company not to opt sec 44AD, but how we treat in these below cases: (P.Y 2018-19)
(a) if company has 80 lacs turnover and co. declares 5% net profit then in such case tax audit is mandatory or not?
(b) if company has 1.2 crore turnover and co. declares 9% net profit then in such case tax audit is mandatory or not?
Company not to opt sec 44AD, but how we treat in these below cases: (P.Y 2018-19)
(a) if company has 80 lacs turnover and co. declares 5% net profit then in such case tax audit is mandatory or not?
(b) if company has 1.2 crore turnover and co. declares 9% net profit then in such case tax audit is mandatory or not?
Message likes :
1 times
23 September 2019
agree with sir......................
23 September 2019
For companies 44AD not applicable hence,
1 not mandatory
2 mandatory.
1 not mandatory
2 mandatory.
28 September 2019
thanku sir.................................
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