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Aa 44AD, Sec 44ADA applicablity
Do this section get automatically applicable if net profit is less than 6% 8% 50% as the case may be
Replies (6)
No this is a presumptive scheme
I mean do we require to audit if the final income considered is less than the prescribed percentage i.e. 6 or 8 percentage
Yes, if you claim profit less than the deemed profit and your income exceeds maximum amount which is not chargeable to tax, you are required to get your accounts audited
Thank yoy
No it is not automatically applicable
and after amendment it is restricted only to the cases where sub section 4 of section 44 AD is applicable
and after amendment it is restricted only to the cases where sub section 4 of section 44 AD is applicable
Sorry I mean will sec 44AB get automatically applicable if the final income is less than 6 or 8 percentage as prescribed
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