whether Guidance Note by ICAI on Tax audit require compliance.
As per Sec. 44AB , if gross turnover Exceeds Rs. 1 Crore, then asseses is liable to tax audit.Wheher Sales Return, discount, Rebates are to be deducted?
As per Guidance note, it is to be deducted, but i m confused whether such guidance is applicable for Sec.44AB.
Please Reply
where it has been stated. whether in income tax act or any other act to follow such guidance.
Also guidance notes are only for guidance.
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