In tax audit report whether we have to put yes on books liable to maintain u/s 44AA although 44AB is applicable?????
In tax audit report whether we have to put yes on books liable to maintain u/s 44AA although 44AB is applicable?????
44AA deals with maintainence of books whereas 44AB deals with tax audit. As far as 44AB is concerned. I.e. when 44AB is applicable, automatically 44AA is applicable. And so you need to tick 44AA as yes, books are liable to be maintained.
But there are possibilities where even if 44AB is not applicable, 44AA still maybe applicable.
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CAclubindia
