11 July 2017
One of the assessee has a turnover of Rs. 1.02 Crores for the AY 2017-18 and the profit is below 8% of the total turnover. Now whether the assessee comes under Normal Tax audit u/s 44AB (a) ie Turonver or Gross Receipts exceeds Rs. 1 Crore or U/s 44AB (d) ie Profit and Gains is lower than deemed profits under section 44AD?
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