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About 44ab audit

Ataur Rehman (193 Points)

08 February 2020

If my gross receipt or sales below 1 crore can I file under sec 44ab. Please guide me.

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4 Replies

Roshni (Studwnt) (1141 Points)
Replied 08 February 2020

If you want you can

RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 08 February 2020

As per sec 44AB Tax Audit not required...
If You want to Audit Your details then You can. Consult with Your Auditor...

Atif Khan (151 Points)
Replied 09 February 2020

If you want to have Audit of accounts by Chartered Accountant it's upto you...
however if you don't have Proper books of Accounts and you don't want to Audit by CA than you can also file us 44AD by just taking profit at 8% of the Turnover..
it's your choice totally.

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Kapadia Pravin (17264 Points)
Replied 09 February 2020

For ITR filing , you won't be able to upload 44AB report bcoz assessee will select in ITR - 44AB not applicable.

If you think 44AB audited accounts and reports advantegous for other purposes then go for it. Otherwise no need.
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Under 44AD it's 6% or 8% profit of turnover or actual profit whichever is higher.

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