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44ab Audit
My Sales T.O. (Trading) for FY 201718 is below 1 crore and my net profit for said period is below 4%. I have not opted for 44ad in previous years (Not even once) should I get my accounts audited under 44ab or is it not required. I have maintained the books of account. I cannot opt for 44ad because my net profit is not up to 8 or 6% Pls help.
Replies (1)
In case, if assesse has never filed return u/s 44AD (i.e. higher than 8%) and now showing profit less than 8%, he would not be required to get audited as per Income Tax act (Due to amendment in Finance Act, 2016)
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