If my gross turnover is 1.60cr for financial year 2016-17 and I am adopting presumptive basis of
computation of profit then is I m liable for tax audit also?
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44AD and tax audit
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If you are opt u/s 44ad (presumptive taxation) then no need to tax Audit...
But, Check your business is applicable for the section of 44ad....
But, Check your business is applicable for the section of 44ad....
Under Section 44AD, income would be presumed to be 8% of the total turnover of the assessee, only if the total turnover of the assessee is less than Rs. 2 Crore. once u opt for presumptive taxation no need to get books of accouts audited
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