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Section 44ad

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29 July 2011 Dear sir,

As per provisions of section 44AD of the I. T. Act, 1961, Is it compulsory to get an audit as per provisions of section 44AA when the total net profit of the business is shown less than 8% of the total turnover.

Is it a compulsion or optional to opt this scheme ?

Please guide.

Subhash

31 July 2011 It is compulsory to either show profit of 8% or get your accounts audited.



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