44ada - tax audit

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CA STUDENT
75 Points Joined August 2012

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

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On 11 September 2018 at 16:50 Report
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Practicing Chartered Accountant
2481 Points Joined June 2013

Yes, if you are declaring profits less than 50% and your total income is chargeable to tax, then you have to get Tax Audit.

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On 11 September 2018 at 17:06
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Practising CA
8944 Points Joined December 2013
agree with previous reply provided your total income exceeds basic exemption limit.
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On 11 September 2018 at 23:55


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