Tax audit 44ab
This query is : Resolved
SUJIT BANERJEE
(Querist)
25 September 2018
GROSS TURNOVER F/Y 2017-18 (A/Y2018-19) 1,70,99,332/- NET PROFIT 6,27,980/- % OF PROFIT 3.67254%. SHOULD TAX AUDIT UNDER 44AD.
25 September 2018
As per sec 44AB the above said value fall under Tax Audit...
If Asseessee will be file u/s 44ad (If Eligible Assessee and Eligible Business) then He must show the profit 8 percentage or above 8 percent / (6%). If it's lesser then Tax Audit applicable as per sec 44AD...
Dhirajlal Rambhia
(Expert)
14 October 2021
If the previous returns not filed u/s. 44AD; then tax audit u/s. 44AB(a) will be applicable.
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