Section 44ab and 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 August 2011
If my turnover is 60 laks (i.e. non auditable as per section 44 AB) and my net profit is below 8 % as specified in section 44 AD,
Still is it compulsory to get books of accounts audited ?
As per my opinion, we are strictly follow section 44AB and not to confuse ourselves!!!
M I correct or if not, please correct me?
Still is it compulsory to get books of accounts audited ?
As per my opinion, we are strictly follow section 44AB and not to confuse ourselves!!!
M I correct or if not, please correct me?
chetan soni
(Expert)
17 August 2011
If your NP is below the limit of % specified u/s 44AD then you need to get your books audited u/s 44AB.
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