Hi All,
Can anyone kindly tell me, that if i need to declare a profit less than 50% of my gross receipts in case of Accountancy profession (or any other professionals referred to in section 44AA(1) ), do i need to Audit my books under 44AB?
Thank you in Advance
Yes, if you are declaring profits less than 50% and your total income is chargeable to tax, then you have to get Tax Audit.
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
