19 February 2010
Sir, I have an query related to section 44AD, 44AE, 44AF. I just want to know that :- In above three section there is an presumptive scheme for taxation, but where an assessee claim his income LOWER than the income calculated as per the provision of above mentioned three sections then whether the aseessee is required to audited his books of accounts AUDITED alongwith mantainance of Books of accounts as per section 44AA,where his gross turnover is not exceed 40 lakhs
19 February 2010
In case of the business covered by Sections 44AD, 44AE and 44AF, if the assessee claims his income lower than the income calculated as per these sections, then the assessee needs to maintain books of accounts and also get them audited under section 44AB. So he needs to get the books of accounts audited.
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