In tax audit report whether we have to put yes on books liable to maintain u/s 44AA although 44AB is applicable?????
4 Replies
Karthik.V.Kulkarni
(Chartered Accountant)
(594 Points)
Replied 04 December 2015
Yes books maintained u/s 44AA will be audited u/s 44AB. So yes you have to put tick.
Hitesh Khanna
(Accounting & Finance Taxation Company Law Audit )
(839 Points)
Replied 04 December 2015
44AA, deals with whether Books of Accounts are Required to be maintained or not.
SSo if the Accounts are liable for Audit u/s 44AB, then one has to put a tick mark on Books maintained u/s 44AA
Miss Rinkal
(Student)
(1309 Points)
Replied 05 December 2015
44AA deals with maintainence of books whereas 44AB deals with tax audit. As far as 44AB is concerned. I.e. when 44AB is applicable, automatically 44AA is applicable. And so you need to tick 44AA as yes, books are liable to be maintained.
But there are possibilities where even if 44AB is not applicable, 44AA still maybe applicable.
MAYUR BIYANI
(Assistant Manager-Taxation & Accounts)
(142 Points)
Replied 05 December 2015
Ok will take a note of it...thanks to all for ur valuable reply
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