24 March 2012
In fy 2011-12 my turnover would be around 75 lacs. Do I require to get audited in AY 2012-13, if I opt the net profit 8% u/s 44ad. As I heared that the audit limit has extended to 1 crore for AY 2012-13? Regards
25 March 2012
u cannot claim the benefit of section 44AD since ur turover is 75 lakhs the limit is proposed to be raised for assessment year 2013.14 CA MANOJ GUPTA JODHPUR 09828510543
26 March 2012
44AD is available for only those whose turnover is below the limit as fixed by the provisions of section 44AB and in your case you have exceeded the same and accordingly you are out of the per view of the provisions of section 44AD. Therefore, you cannot claim 44AD and you have to get your accounts audited u/s 44AB
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