I am going to file incometax return through efiling. We are using 44AD of Income Tax Act, the turnover is below 60.00 lacs . But audit has been done as given in the above section.
I am having doubt that 1. whether digital signature is mandatory for filing income tax return efiling u/s44AD and audit conducted on it. 2. Wheter audit conducted u/s 44AD is tax audit u/s 44AB or other audit. please clarify on the above points as soon as possible.
19 January 2012
If the profit is shown below 8%, maintaining books of accounts and getting the books audited is compulsory.
In that case, the return will NOT be filed under Section 44AD (ITR4S will not be used). It will be filed under the normal provisions of the Act (ITR 4 shall be used).
Further, digital signature is mandatory to file the return.
Guest
Guest
(Expert)
19 January 2012
DCS mandatory if profits are shown as less than 8% since then audit becomes mandatory.