If u/s 44AD, the total income( irrespective of turnover) of an eligible assesse is less than exemption limit then he need not to maintain books of A/C & make his A/C Audited as per law...Is it Right?? if Yes, then every Assesse who covered u/s 44AD try 2 show his income less than exemption limit so as not to maintain books of a/c & make his a/c audited even though his income is less than 8% on gross turnover...
e.g. if Mr. A has gross turnover of5800000/- and showing his income of150000/- only (which is less than 8% of gross turnover) then inthis case he need not to maintain books of a/c & make his a/c audited???
CAclubindia
