Dear Friends
One of my client who is proprietor has two businesses, one is logistics turnover Rs 70 Lakhs and Profit declared is Rs 7 Lakhs. Another one is apparel division (Franchise of famous Apparel Company ) commission receipts Rs 9.69 L, Net Loss 10 Lakhs. Apparel division capital investment is more than 1 Crore,for which depreciation and interest on loan and other overheads claimed, Hence there is loss of Rs 10 Lakhs. The client has maintained books of accounts. Please advise me whether Tax Audit Report U/s 44 AD required or not
CAclubindia
