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Tax audit u/s 44ab

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(Querist)
05 August 2011 MR. X IS A PROPRIETOR OF A 3 FIRM AND THE TURNOVER IS AS FOLLOWS-
A- 72 LAKHS
B- 8 LAKHS
C- 267 LAKHS

THEN FOR B FIRM ALSO HE SHOULD DO THE AUDIT???
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
05 August 2011 X has an option to declare income @8% U/s 44AD if he does not want to get audited the Firm B.
Otherwise, audit is necessary.
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
05 August 2011 As for my personal point of view limits in 44AD and 44AB is person wise and not business wise so he has to get all his business audited.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
05 August 2011 Seems Ashwani Ji is correct.

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