I have a professional Business as a Proprietor. I M being told by few people that if my expenses are more than 50% of my income then I need to get my books audited. Is This information True..???
Harshank (Dy. Manager) (26 Points)
05 August 2017I have a professional Business as a Proprietor. I M being told by few people that if my expenses are more than 50% of my income then I need to get my books audited. Is This information True..???
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 05 August 2017
Yes, provided your profession is listed as specified profession as per section 44AA of IT act........
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