Audit limit for work contractor

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Querist : Anonymous

Querist : Anonymous (Querist)

18 January 2012 Dear Expert,

Plz tell me what is audit limit of work contractor.

CA Hardik Bunha

CA Hardik Bunha (Expert)
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18 January 2012 audit limit will be 60 lakh,

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Querist : Anonymous

Querist : Anonymous (Querist)

18 January 2012 DEAR SIR,
PLZ CLEAR MY CONFUSION THAT...
GROSS RECEIVED IS12,50,000
PROFIT (8%) IS1,00,000
less: salry to partner IS90,000
TAXABLE INCOME IS10,000

NOW MY QUES.IS

WHERE I SHOW RECIVED AMOUNT, PROFIT AND SALARY TO PARTNER IN ITR 5 EXCELL UTILITY,

HOW CAN I JUSTIFY THAT I FILED UNDER SEC 44AD

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CA Hardik Bunha

CA Hardik Bunha (Expert)
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20 January 2012 Hey my friend,
i think u little worried about that
ok u need not to show salary paid to partner in itr 5 because as per section 44 AD it is deemed. u have to show only profit.