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Tax audit

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(Querist)
21 June 2017 Dear Sir,

A person is carrying the business of Bakery. His Total Sales is 60,00,000/- in the FY 2015-16. He is showing the income less than 8 % and maintaining the books of accounts and his total income is exceeds the maximum amount which is not chargeable to tax. Whether he is liable to get his accounts audited u/s 44 AB? He is not opted for section 44 AD presumptive basis.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
21 June 2017 Yes he is compulsorily required to register under tax audit.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
21 June 2017 Yes he is compulsorily required to get his book audited u/s 44AB.
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Preetam Singh Shekhawat

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Preetam Singh Shekhawat (Querist)
22 June 2017 Section 44 AD is optional scheme or Compulsory ?
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
22 June 2017 Its compulsory.
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