Salu Manghat (CA STUDENT) (75 Points)
11 September 2018Hi 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
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 11 September 2018
Yes, if you are declaring profits less than 50% and your total income is chargeable to tax, then you have to get Tax Audit.
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 11 September 2018
CAclubindia
