| Originally posted by : Sudiesh | ||
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@ rohit. these provisions of section 44AD has been amended w.e.f AY 2017 - 18.Now there is no provision saying that you have to audit your books if the profit is below 8%. So there is no need to audit books upto the turnover of Rs.1cr. Even if it is loss not required to audit upto 1cr turnover. and if your turnover is above 1 cr and you are not showing 8% you have to audit U/S 44AB(a). But in the case of 44ADA and 44AE if you are declaring profit below prescribed limit(50% and 7500 pm) and the profit exceeds the amount which is not chargeable to tax you have to audit the books.So in my opinion there is no need to get your accounts audited upto 1cr turnover in the case of eligible business prescribed in 44AD |  |
Thank You Sir
CAclubindia
