Net loss whether audit reguired u/s 44ab

This query is : Resolved 

28 July 2012 A proprietorship firm has loss of Rs. 70000/- and its turnover is 39.5 lakhs... whether it is reguired to get its accounts audited as its netprofit is less than 8% or not. wat is its due date of filling return.... plz help

28 July 2012 No need of tax audit in view of section 44AD(5) provided the business carried on is an 'eligible business' as defined in explnation (b)of the said section.
Due date, therefore, is 31st July.

28 July 2012 No need to get accounts audited


29 July 2012 no, not required to get it audit but file return before 31st july to claim loss.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries