44ab applicable?

Sanju.P (CA Practice ) (111 Points)

18 July 2019  

Hi,-

Is Section 44AB applicable in the given case for FY:2018-2019,

Turnover: Rs.56,00,000/-

Net Profit : 2%

Case 1:

Total Taxable Income is above basic exemption limit i.e. Rs.4,45,000/-

Case 2:

Total Taxable Income is below basic Exemption Limit i.e..Rs.2,25,000/-

 

Thanks in Advance.