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Tax audit

This query is : Resolved 
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(Querist)
23 September 2014 a person carrying on agency business having
sales 30 lacs and np ratio 6.12 %
are liable to audit.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
23 September 2014 no...agency services are not covered under 44AD. So no requirement for audit till the turnover is less than Rs 1 cr
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CA P K AGRAWAL

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CA P K AGRAWAL (Expert)
24 September 2014 agency business is not covered u/s. 44 ad?? but now 44ad covered all businesses?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
25 September 2014 Sir, you may refer to Section 44AD(6)(iii)
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
25 September 2014 nihkil is correct as agency business are not covered by sec 44AD
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