1 Replies
Vivek Kurup
(.)
(355 Points)
Replied 22 March 2011
Yes. He is covered under 44AB if any of the following conditions are satisfied.
1. If he claims that his net profit is less than 8% (44AD) or 5% (44AF), as the case may be.
2. If his total TURNOVER exceeds the 60 lakhs
(Note: The turnover for the purpose of Sec 44AB is the total sales, turnover or gross receipts, as the case may be. Therefore, in this case since his total t/o exceeds 60 lakhs (35+35), he is liable to get his accounts audited under 44AB)
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