Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
This query is : Open
18 September 2026
A proprietorship is engaged in transportation business and owns 8 heavy goods vehicles, each having 25-ton GVW, owned throughout the year.
Turnover: ₹3.50 crore
100% receipts through digital/banking channels
Profit declared: 3% = ₹10.50 lakh
44AE presumptive income: 8 × 25 tons × ₹1,000 × 12 months = ₹24 lakh
Since the assessee declares income lower than the amount prescribed u/s 44AE, is tax audit u/s 44AB(c) mandatory?
Also, considering that turnover is below ₹10 crore and cash receipts/payments are within 5%, would 44AB(a) apply, or is 44AB(c) the correct clause?
A proprietorship is engaged in transportation business and owns 8 heavy goods vehicles, each having 25-ton GVW, owned throughout the year.
Turnover: ₹3.50 crore
100% receipts through digital/banking channels
Profit declared: 3% = ₹10.50 lakh
44AE presumptive income: 8 × 25 tons × ₹1,000 × 12 months = ₹24 lakh
Since the assessee declares income lower than the amount prescribed u/s 44AE, is tax audit u/s 44AB(c) mandatory?
Also, considering that turnover is below ₹10 crore and cash receipts/payments are within 5%, would 44AB(a) apply, or is 44AB(c) the correct clause?
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