Digital signature required in audit u/s 44ad

This query is : Resolved

jay (Querist)
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24 August 2011 i want to know that our dealer has turnober below 60 lakhs in f.y. 10-11 but the net profit is less than 8% so we have to audit our account.but i want to know that if audited our account as per income tax section 44AD and filed our e rturn so digital signature is required while filing the ereturn or not.

Ravikant

Ravikant (Expert)
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24 August 2011 Digital Signature Certificate made mandatory w.e.f 1st July 2011 for Firms and Individuals whose accounts are required to be audited u/s 44 AB of the Income Tax Act' 1961.

CA. Anoop Gadia

CA. Anoop Gadia (Expert)
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24 August 2011 if you are audited uder u/s 44AB than you req. digital signature or you report minimum 8% income on turnover.

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CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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24 August 2011 Every audit in income tax is done u/s 44AB of income tax even if it is done due to profit below 8%.

So digital signature will be needed if you are getting your books audited because of non compliance of 44AD.