44ab

Hi Amit,

Tax Audit is not compulsory for companies whose turnover is below the specified limit.

hi Amit.........

8% taxation rate on presumptive basis is available us 44AD.

but benefit of section 44AD is not available for companies as it is available only for  INDIVIDUAL, HUF & ,FIRMS.

section 44AD is not a mandatory presumptive taxation section........

but section 44AD is triggered when gross receipt of business does not exceed 60 lacs.

in that case ,if net profit is below than 8% income as ascertained US 44AD and assessee wants to go with net profit ,section 44AB becomes compulsory.