19 June 2015
When assessee is dealing in goods and also has commission based business of the same goods whether audit under sec 44AB will apply to it if its turnover is below 1cr and profit declared is less than 8% ?
19 June 2015
since he is doing business on commission basis too, he is anyways not eligible to file return under 44AD. So the audit is not applicable. But section 44AA has to be complied with
Querist :
Anonymous
Querist :
Anonymous
(Querist)
19 June 2015
sir if he has commission / brokerage income from othe than goods he is trading then what to do in that situation? will 44AD apply and audit is required if declaring less than 8% profit?