agar kisi ki gross receipts 50,00,000 hoo to audit hogi but uske expenses hame kese show karenge or jis par 500000 tds deducted huva hai to muje kses uski return filled karni chaye tell me.
12 March 2013
Dear Pradeep, There is no need to audit and maintenance of books of accounts if You file the return u/s 44AD i.e. presumptive basis and show 8% profit. Interest on capital and remuneration will be allowed if it is partnership firm. if the profit show below 8% then audit will be compulsory and maintenance of books of accounts mandatory.
CAclubindia
