I am a doctor
my gross receipts exceeds 50 lacs
my net profit is more than
52%
CA Says audit complusory
is it ok
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44ad & ada tax audit
Replies (11)
Yes.... as per sec. 44AB of IT act, whenever professional receipt exceed 50 lakhs...
Thanks Sir
1. As per sec 44AB in case of a person who is engaged in the profession if his gross receipts exceed Rs. 50 lakhs during the year, he is required to carry out tax audit mandatorily.
2. In your case doctor is a profession and since gross receipts exceed Rs. 50 lakhs tax audit as per sec 44AB is compulsory. The time limit for filing a return will be 30.09.2019.
Please correct me if the above solution has an alternative view.
Yes... I agreed to Shri Dhirajlal Rambhia Sir...
concur with Mr Suresh
CAPACITY OF TRUCK 40 TUN BUT UNLEDEN WAIT 10MT IS THIS HEAVY VEHICLE OR LIGHT VEHICLE
Heavy Vehicle. Consider Gross Weight as per RTO permission.
But in sec 44 AE written Weight of gross vehicle and unleden wait not the capacity of vhicle..
On that point clarification required to be issued by CBIC, as the phrase is just copied from RTO act.
Dear sir, please guide whether digital marketing is covered under section 44ada for presumptive taxation.
Yes, it can be assessed u/s. 44ADA..... code '14005'
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