Section 44ab
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2013
Audit u/s 44AB is applicable if turnover DY excees Rs 1 cr.
Whether turnover includes VAT ?
FOR eg Sale of concern is Rs 98,00,000/- excluding VAT & sale including VAT is Rs 1,02,90,000/- in that case 44 AB is applicable?
Whether turnover includes VAT ?
FOR eg Sale of concern is Rs 98,00,000/- excluding VAT & sale including VAT is Rs 1,02,90,000/- in that case 44 AB is applicable?
27 June 2013
If VAT is shown in separate account then only sale amount will be considered.
You have to also make sure that your gross receipt, turnover are also below 1 cr.
Also, if your sales, receipts or turnover is below 1 crore then you will be liable for audit if your net profit ratio is less than 8 %
You have to also make sure that your gross receipt, turnover are also below 1 cr.
Also, if your sales, receipts or turnover is below 1 crore then you will be liable for audit if your net profit ratio is less than 8 %
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- Applicability of GST on Salary Reimbursement Component
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Tds on commission charges
- Dep. as per companies act
- Minimum tax payable to file Updated return
- UDIN ISSUE
- Renovation exp. in flat by family member
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
22 September 2026
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared
Getmyca Consultant Pvt Ltd
New Delhi
CA Inter
View Details
08 September 2026
Semi-Qualified Assitant
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
Featured
12 September 2026
Assistant Manager - Finance & Compliance
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CCI
Pro
CAclubindia
