Hi
i am a professional doctor and my turnover is below 50 Lakhs for FY 16-17 and profit is less than 50% of my turnover. Do I have to get my accounts audited from a CA under section 44 ADA before tax filing?
Thanks!
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Audit for professionals
Replies (4)
Yes.......... if you do not wish to declare min. 50% profit.
Yes.
You can get audit for accounts. If you can't show the profit 50% u/s 44ADA then You can file less than 50% profit u/s 44AB under A CA.....
You can get audit for accounts. If you can't show the profit 50% u/s 44ADA then You can file less than 50% profit u/s 44AB under A CA.....
Thx Raja. But audit is mandatory if profit is 50% less than net revenue? Or is it optional?
its compulsory If net profit is less than 50% of gross receipts
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