Sec 44ab ,44ae
This query is : Resolved
24 July 2012
Respected sir,
if the turnover is 59 lakhs, and his profit is less than 8% of turnover or gross receipts and also his income is less than ceiling limit. Then is it necessary to maintain books of accounts under section 44AA & get them audited under section 44AB?
if the turnover is 59 lakhs, and his profit is less than 8% of turnover or gross receipts and also his income is less than ceiling limit. Then is it necessary to maintain books of accounts under section 44AA & get them audited under section 44AB?
24 July 2012
Section 44AE is for Transporters.
If you want to claim the income below the presumptive amount, then you will have to get the audit done u/s 44AB.
Also in case of section 44AD, if you want to claim the income to be less than 8%, you are required to get the books audited.
If you want to claim the income below the presumptive amount, then you will have to get the audit done u/s 44AB.
Also in case of section 44AD, if you want to claim the income to be less than 8%, you are required to get the books audited.
24 July 2012
thanking u sir
24 July 2012
Agreed with the Reply
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