section 44AF
This query is : Resolved
RITESH RAJ PARIYANI
(Querist)
19 September 2008
CAN AUDIT UNDER SECTION 44AF CONDUCTED, IF A PERSON COVERED UNDER SECTION 44AF HAS TURNOVER LESS THAN FOURTY LACS?
19 September 2008
Yes, as per section 44AF, sub-section 5, one has to get the books of accounts audited u/s 44AB if the Profit and Gains from business are claimed at a rate less than 5%.
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