Section 44ad
This query is : Resolved
15 July 2013
A FIRM HAVING SALES LESS THAN 1 CRORE AND HAVING LOSS IN ITS BOOKS OF ACCOUNTS, WHETHER THE FIRM IS REQUIRED TO GET HIS ACCOUNTS AUDITED OR NOT .....BECAUSE AS PER SECTION 44AD AUDIT IS REQUIRED ONLY WHEN THE TOTAL INCOME EXCEEDS THE MAXIMUM AMOUNT NOT CHARGEABLE TO INCOME TAX AND IN CASE OF FIRM THE MAXIMUM AMOUNT NOT CHARGEABLE TO INCOME TAX IS 0
15 July 2013
In case of business, as per sec. 44 ab, If the gross turnover does not exceed 1 cr. , its nt required to get the books of act. audited
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