WHAT WILL BE TURNOVER
LIMIT FOR 44AD audit excluding in celling limit? 2 CRORE OR 1 CRORE? AS UPTO 2 CRORE ASSESSEE CAN TAKE BENEFIT OF 44AD.
Assessee can take benefit of 2 Cr u/s. 44AD of IT act...
Secondly, the reason why 44AD etc is not included in number of Tax Audits… may be because the Assessee has an option to avoid the Audit by declaring 8/6% on turnover as profit. Since this option is extended for a turnover upto 2 Crores, on the same logic, such audits not become part of the ceiling.
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