If the assesse is argues that his presumptive income is less than 8%, then his accounts need be certified under 44AB..??? evan if his turnover is less than 1 Core, still he need tax audit u/s 44AB..???
21 January 2014
If the turnover is more than 1 crore, the tax audit is must u/s 44AB. If the turnover is not more than 1 crore, the tax audit is compulsory only if the net profit is less than 8%.
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