U/s44AB
Querist : Anonymous
Total Purchase is Rs.45,00,000/-
So it is liable for Compulsory Audit u/s 44AB or not.....
Please give me answer as soon as possible......
However, audit as per Sec 44AF may be necessary if involved in retail business & net profit offered to tax is less than 5% of total turnover. The limit for tax audit u/s 44AB has been increased to Rs. 60 lakh from FY 2010-11.
Querist : Anonymous
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