Tax audit
This query is : Resolved
24 September 2013
If an Individual assessee having turnover 50 lacs, has net profit less than 8%, weather even then he is required to Tax audit u/s 44AB, even if he is not claiming 44AD.
24 September 2013
If his total taxable income is exceeded the basic exemption limit then he required to make tax audit u/s 44AB otherwise has to offer minimum profit of 8% u/s 44AD eventhough as per books profit is lower than such.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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