Tax audit u/s 44AB

Yes. As in the above case, sec 44AD is applicable and the  Net income is below 8% of total turnover. if the income is or more than Rs. 1,68,000/-  tax audit is not required.

agree with above reply

Yes, he need to maintaine book of account and required tax audit.

yes he do need to maintain the books of account...

PEACE...!!!

Yes Section 44AD will apply it this case...but one need to check that whether the business is of retail or any service provding or or a wholesale one in the first case audit will be required for declaring the income bellow 1.68 lacs but in the other two cases the same is not applicable...so in similar way check the nature of business that whether it qualifies for the sec 44AD or not

ya he should required to maitaian under section 44AA , exceeds 1000000 turnover

yes he need to maintain books & get it audit

HE NEED NOT TO MAINTAIN BOOKS OF AC AND GET THEM AUDITED SINCE SECTIONN 44AD PROVIDES THAT if you claim the lower income(i.e less then 8%) but your income doesnt exceeds the income not chargable to tax(i.e 160000) then u need not to get your account audited.

In the given case, Mr.X does not exceeds the threshold limit of Rs.60lakhs therfor he is not require to do tax audit. However assessee can opt special provision laid down u/s.44AD and if he justify his income below 8% of his turnover then he has to maintain the books of accounts and get it audited.

Let me explain through an example for the above situation.

Mr.X is having Rs.21 Lakh turnover. As per Sec.44AD his income will be considered as Rs.168000/- (i.e. 8% of Rs.21 Lakh). however, if Mr.X is claiming that his income is below Rs.168000/- then he has to maintain necessary books of accounts and get it audited.