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liable to audit
assesse having turnover of rs 90,00,000 and profit from business is 2,69,000, and all other income/(loss) is (199,000). will it be liable to audit.as its total income is 70,000 after claiming all deduction.
Replies (3)
Yes, it is liable to audit.
but as per sec 44ad(5) it is said that if your total income is less than income chargeable to tax then no need to have audit.
| Originally posted by : It Return | ||
 |
but as per sec 44ad(5) it is said that if your total income is less than income chargeable to tax then no need to have audit. |  |
Correct....... provided 'eligible business' & for 'eligible assessee'...... no audit liability when taxable income BEL...
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