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44ad & loss

This query is : Resolved 
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 August 2017 I WONDER.....

HOW CA....FILED RTN UNDER 44AD....

IF GROOSS RECPRT 5 LAC....PROFIT 2000...THEN REQUIRE AUDIT U/S 44AD....

BUT ...AFTER PROVISION......
SHOWS NET LOSS....
THEN NOT NEEDED TO AUDIT U/S 44AD & NOT REQUIRED TO MAINTAIN BOOKS OF A/C....

I WONDER & NOT UNDERSTAN ...LAW...

IF TURNOVER OR GROOS RECPT......NP SHOULD BE 8% OR MORE...IF LESS ....THAN TO BE AUDITED.....

IF SHOWS ....NET-LOSS....THEN NO NEED TO AUDIT U/S 44 AD....

EML...LOOK4U@REDIFFMAIL.COM
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Amol S Joglekar

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Amol S Joglekar (Expert)
08 August 2017 your contention is right. You can ask the clarification from the said so called CA

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