Hello All,
Last year in partnership firm If turnover is 5 lakhs and profit is 50 thousands opted for 44AD.
NOW THIS YEAR if we opt out of 44AD.
IS IT MANDATORY TO GET BOOKS OF ACCOUNTS AUDITED BY CA?
Even turnover IS 10 LAKHS AND PROFIT IS 1 LAKHS BUT DOESN'T WANTED TO CONTINUE IN 44AD
No. Tax audit not applicable.
CAclubindia
