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Section 44ad

Statutory Audit 995 views 8 replies
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Chartered Accountant
32 Points Posted on 01 August 2014

I want you comment for " Section 44AD is compulsury or not"  If i have turnover of Rs 50 lacs & profit is below 8% i.e. 4% and my total income is Rs. 3 lac. Shall i get my accounts audited or not????? And what if i have maintained all books of account and not opt for Sec 44AD

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On 01 August 2014 at 16:28 Report
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Article
690 Points Posted on 01 August 2014

Yes, it needs to be audited

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On 01 August 2014 at 16:52
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Manager-Accounts & GST Consultant
5124 Points Posted on 01 August 2014

Yes you need to get your books audited u/s 44AD........

Its good that you have maintained all books of accounts, it will be easier for auditor to audit

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On 01 August 2014 at 21:45
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Article Assistant
80 Points Posted on 01 August 2014
If profit is below 8% then it needs to be audited.
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On 01 August 2014 at 22:31
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student
735 Points Posted on 01 August 2014
Agree with previous one's
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On 01 August 2014 at 22:54
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Taxation Consultant & CA final student
504 Points Posted on 01 August 2014
Must have to Maintain books of acc*nt & got Tax audit by CA before 30 septmbr as u want to show Profit belw 8%
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On 01 August 2014 at 23:29
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student
22 Points Posted on 02 August 2014
Yes if your profit is below 8% then you must maintenance of book of accounts & same should be get audited by CA.
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On 02 August 2014 at 12:01
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Tax Auditor
21 Points Posted on 02 August 2014
Yes if Ur profit is below 8% then u must maintenance of books of accounts same should be get audited by CA
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On 02 August 2014 at 17:14
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student
23 Points Posted on 05 August 2014
Yes, u required maintain books of accounts s as per sec. 44AA of IT act 1961 & mandatory audit as per sec. 44 AB
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On 05 August 2014 at 16:08


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