Sec 44AD and tax audit u/s 44AB


(Querist)
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?


Gokul Sharma (Expert)
23 September 2019
agree with sir......................

CA R SEETHARAMAN (Expert)


Click to Talk 23 September 2019
For companies 44AD not applicable hence,
1 not mandatory
2 mandatory.

Jaswinder singh (Querist)
28 September 2019
thanku sir.................................


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