06 December 2015
I run Transportation business by taking vehicles on rent and my turnover is 95 lacs & total income is 4,30,000.00 in F.Y. 14-15 then whether i have to maintain & gets books of account audited compulsory?
07 December 2015
Yes you have to maintain books of accounts and gets it audited. As your net profit is lower than 8% of your turnover you are audited under section 44AD.
07 December 2015
Dear Experts, section 44AD read as following:
Section 44AD:- 1) Eligible Business:- following persons are not eligible to avail any benefit under section 44AD - d. A person who is in the business of plying, hiring or leasing goods carriages.
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