44 ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 August 2011
dear sir,
one of the assessee having whole sale medical business. his total turnover during the year is 40 lacs and net profit rs 125000 only.
Is he liable to audit?
one of the assessee having whole sale medical business. his total turnover during the year is 40 lacs and net profit rs 125000 only.
Is he liable to audit?
17 August 2011
below 3.2 lacs taxable income(8% of 40 lacs), he is liable to get audited u/s 44AB
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 August 2011
but sir, his income is below taxable (rs 125000 only). IF we apply 44ad (5) then what he have to do?
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