About 44ab audit
Ataur Rehman (147 Points)
08 February 2020
If my gross receipt or sales below 1 crore can I file under sec 44ab. Please guide me.
4 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 08 February 2020
As per sec 44AB Tax Audit not required...
If You want to Audit Your details then You can. Consult with Your Auditor...
If You want to Audit Your details then You can. Consult with Your Auditor...
Atif Khan
(151 Points)
Replied 09 February 2020
If you want to have Audit of accounts by Chartered Accountant it's upto you...
however if you don't have Proper books of Accounts and you don't want to Audit by CA than you can also file us 44AD by just taking profit at 8% of the Turnover..
it's your choice totally.
however if you don't have Proper books of Accounts and you don't want to Audit by CA than you can also file us 44AD by just taking profit at 8% of the Turnover..
it's your choice totally.
Kapadia Pravin
(17259 Points)
Replied 09 February 2020
For ITR filing , you won't be able to upload 44AB report bcoz assessee will select in ITR - 44AB not applicable.
If you think 44AB audited accounts and reports advantegous for other purposes then go for it. Otherwise no need.
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Under 44AD it's 6% or 8% profit of turnover or actual profit whichever is higher.
If you think 44AB audited accounts and reports advantegous for other purposes then go for it. Otherwise no need.
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Under 44AD it's 6% or 8% profit of turnover or actual profit whichever is higher.
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