A PERSON IS RUNNING A BUSINESS WHICH IS AUDITABLE AS NET PROFIT IS BELOW 8%.
ALONG WITH THIS, HE HAS TRUCKS FOR WHICH HE WANTS TO SHOW PRESUMPTIVE INCOME U/S 44AE....
DO WE HAVE TO SHOW TRUCK INCOME IN OUR AUDIT REPORT ??? OR JUST PREPARE THE AUDIT REPORT CONSIDERING BUSINESS 1 AND SHOW THIS INCOME AS WELL AS INCOME U/S 44AE IN THE ITR....????
IMMEDIATE REPLY IS VERY MUCH APPRECIATED.... THANX IN ADVANCE.....
" (c) "
If there are two separate business out of which one comes under audit .. you dont need to audit the other one also...
so i think you can audit one and take presumptive income u/s44e the other business income... but once consult with a exp. chartered....
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