22 September 2014
Whether the profit and loss account includes any profits and gains assessable on presumptive basis, if yes, indicate the amount and the relevant section (44AD, 44AE, 44AF, 44B, 44BB, 44BBA, 44BBB, Chapter XII-G, First Schedule or any other relevant section.) can someone explain the same?
22 September 2014
these are the sections where in the income is taxed on a presumptive basis. Like in 44AD 8% of the turnover is assumed to be the profit.
So if your client has any such income, you need to report here against this question
22 September 2014
Means if i am doing audit of the person having turnover less than Rs. 1 crore, than required to disclose such turnover under this clause.
CAclubindia
