Sec 44 ab and sec 44 ad (urgent please)

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naga raju (Querist)
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22 April 2013 Dear Sir

If the 8% of Gross receipts is more than 1 Crore then whether the assessee is required to do Tax Audit U/S 44AB

Thanks

CA Vikas Acharya

CA Vikas Acharya (Expert)
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22 April 2013 when gross receipts exceeds 1 crore, then why to check this 8% limit, already became liable for tax audit.
8% is required to be check when the receipts is less than 1 crore and audit is not required, in that case presumptive basis income must be more than 8%

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naga raju

naga raju (Querist)
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22 April 2013 ya you are right

thank u

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