44ab
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 December 2012
If a business or profession is once covered under 44AB audit, is it compulsory for it to get its accounts audited even if its turnover is below the specified limit?
12 December 2012
No its not necessary.
12 December 2012
No its only applicable, when it crosses the prescribed limit.....it has no continous effect
12 December 2012
In order to reduce the compliance burden on small businesses and on, total sales, turnover or gross receipts, specified under section 44AB for getting accounts audited, from sixty lakh rupees to one crore rupees in the case of persons carrying on business….
If the limit has not crossed then No need to account to be audited.
If the limit has not crossed then No need to account to be audited.
12 December 2012
44 AB is not compulosry when turnover is blow limit.
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