Tax audit u/s 44AB

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 July 2011 Mr. A. a qualified mechanical engineer is a proprietor of authorised service centre of a reputed Indian company and his turnover for the financial year 2010-11 is Rs. 27,00,000/-. Whether his account for the above mentioned turnover is required to be audited u/s. 44AB

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

08 July 2011 Yes if he is showing profit less then 8% of his turnover then the provisions of Section 44AD will apply and if he is showing profit above 8% then no Tax Audit is required up to the turnover of 60 lacs.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Chaitanya Voolla

MEHUL M. KEVAT

K.S. ANANTHARAJAN

v.rama krishna

DEEPAK BHARGAVA

Subscribe Now

Tax audit u/s 44AB

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

Manager- Finance and Compliance

GST CONSULTANCY

Accountant

CA Final

GST CONSULTANT