Tax audit
This query is : Resolved
JATIN KUMAR
(Querist)
24 September 2013
If an Individual assessee having turnover 50 lacs, has net profit less than 8%, weather even then he is required to Tax audit u/s 44AB, even if he is not claiming 44AD.
Dintakurthi Tirumala
(Expert)
24 September 2013
If his total taxable income is exceeded the basic exemption limit then he required to make tax audit u/s 44AB otherwise has to offer minimum profit of 8% u/s 44AD eventhough as per books profit is lower than such.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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