clear me the sec. 44ad about the exemption limit if a person has an Turnover rs. 16 lakh and profit is rs.1.20 lakh whether he is required to audit or he can represent his income 1.20 in ITR
clear me the sec. 44ad about the exemption limit if a person has an Turnover rs. 16 lakh and profit is rs.1.20 lakh whether he is required to audit or he can represent his income 1.20 in ITR
as nett profit is less than 8% audit is must
section 44AD is not compulsory in nature, it is voluntary, if turnover is below 60 lakhs and net profit is below 8% of turnover and if books of accounts are maintened then NO AUDIT REQUIRED, as per my view
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