Tax audit u/s 44ad-clarification needed

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 September 2011 Dear Team

When client show income less than 8% of his IO and his income comes below the exemption limit of Rs160000. Pl confirm whether in this case his tax audit is mandatory or not.
thanks. Also efiling is mandatory or not.

23 September 2011 As per section 44AD(5) of the Income tax Act,1961,in the cited issue, tax audit and e-filing is not mandatory.

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 September 2011 Sir, you mean to say the tax audit is not mandatory even if return income is shown below 8%.

23 September 2011 Yes, Mr.B.Chackrapani sir is correct.
OM SAI SRI SAI JAI JAI SAI


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