Section 44ada
This query is : Resolved
04 January 2017
A CA has gross receipts of Rs 20 lacs. He maintains regular books of account and want to show net profit of Rs 5 lacs.
As this net profit is less than limit of 50% as specified in section 44ADA.
Does it mean that he will have to get his accounts audited under section 44AB.?
Regards,
As this net profit is less than limit of 50% as specified in section 44ADA.
Does it mean that he will have to get his accounts audited under section 44AB.?
Regards,
04 January 2017
Audit u/s 44AB applicable in view of declaring less than 50% profit as per section 44ADA.
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