Tax audit u/s 44ad-clarification needed
This query is : Resolved
Querist : Anonymous
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.
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.
Querist : Anonymous
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
OM SAI SRI SAI JAI JAI SAI
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