Books maintained-profit <8%-mandatory audit ?

Tax queries 656 views 3 replies

Hello everyone,

one of my client has turnover of Rs.80 lacs in the previous year 2012-13 his net profit is 500000 (<8%)

he do not want to opt 44AD because he wl have to get his accounts audited.

My question :

can i file his return in ITR4 form without getting books of accounts audited since t/o is less than 1 cr although profit is less than 8% of t/o?

waiting for the views of the experts.

 

Replies (3)

no dear your client has to get books of account audited for claiming income les than 8%..

as provision of 44AD includes any business..

i dont think that 44AD is mandatory. It is optional. 

yeah 44 ad is not mandatory, i have similar view


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