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Tax audit under section 44AD
hence no requirement of tax audit
1. According to sec 44AD, audit needs to be carried out if the Gross receipts or T.O during the year exceeds Rs. 1 crore. However, if a person is carrying on profession the above amount shall be substituted for Rs. 50 lakhs.
Please correct me if the above solution has an alternative view.
Audit is mandatory,if income exceeds Basic exemption limit.
Dear Friends...
Please note the Query Head with Query...
If Assessee filed u/s 44AD with less than profit limit then Audit is applicable in the Case...
| Originally posted by : shubhi srivastava | ||
 |
sorry for being incorrect... query head is tax audit under section 44AB not 44AD.. |  |
WELL...
If 44AB then tax audit not applicable if Turn Over less than 1cr...
| Originally posted by : shubhi srivastava | ||
|
what if profit is also less than 8%..?? | |
NO PROBLEM...
BUT.,
CONDITIONS BASED ON 44AB & 44AD...
IF 44AD THEN IT'S WITHOUT*** BOOKS OF ACCOUNTS.
IF 44AB THEN ITS THROUGH 44AA WITH BOOKS OF ACCOUNTS...
Why audit is must...?
which condition audit applicable in the above said query...?
Can You elaborate with details...?
Kindly refer sec 44 AB (e).
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