u/s 44AE

     I m not sure but if ur Gross Receipt is exceed by 40 lakhs u havo to go for Audit

Under  sec 44AE :-- provision of sec 44AA & 44AB shall not apply in so far as they relate to the business referred to in this section and in computing the monetary limits under those section, the gross receipts,or as the case may be, the income from the said business shall be excluded.

Hi,

In my view, If a assessee declared income u/sec 44AE i.e. Rs. 3500.00 p.m. for every truck owned  by him, then the assessee is not required to get his accounts audited even if the gross receipts from plying of truck exceeds Rs. 40.00 Lacs.

ca dinesh singhal