Dear Sirs,
One of my friend runs a proprietary business - Custom House Agency. Turn Over in FY 19-20 was Rs. 85 lakh ( approx), profit being roughly about Rs. 5.00 lakh. About 40% of the expenses are made in Cash. My query is whether he is supposed to get his Accounts audited u/s 44AB of the Act.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
