Rajib Saha (Accounts Officer) 25 September 2020
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.