Tax audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2012 MY CLIENT HAS RETAILER OF CLOTH.STATE WHETHER HIS INCOME MUST OR NOT CALCULATE AS PER SEC 44AD.HIS TOTAL TURNOVER RS.52LACS.ALSO STATE WHETHER TAX AUDIT IS MORE USEFUL.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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25 July 2012 Yes,Your client liable for offer income under section 44AD.

Tax audit involves more risk but 44AD income no risk or low risk. Because some of the views or areas doesn't consider under 44AD for example unexplained receipts if any as per 44AD deemed it has been consider under income as per 44AD but for 44AB it will consider separate Income.

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