IF a person carries on business and is also a service provider.
Then whether he is liable to audit if:-
income from business is less than 1 crore and income from service is below 50 lakh rupees.
But his cumulative turnover is 1.3 crore.
4 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 03 June 2022
You can choose both 44AD and 44ADA, audit is not required
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 03 June 2022
If you are providing professional services then only limit of 50 lakhs applicable otherwise limit of 1 crore is applicable
sabyasachi mukherjee
(27579 Points)
Replied 04 June 2022
In case of assesse being resident individual except with limited liability partnership except business of plying trucks . income will be computed at 6% of the estimate estimated income received by Account Payee chq or other pescribed electronic mode.8 % of gross receipts applied.
Nature of business is not mentioned.
Nature of business is not mentioned.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 04 June 2022
Check once the business is eligible business in respect of nature of business for 44AD
and also service sector, if it is an eligible profession then you may avail both
44AD and 44ADA without Audit .
44AB and
and also service sector, if it is an eligible profession then you may avail both
44AD and 44ADA without Audit .
44AB and
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