I want you comment for " Section 44AD is compulsury or not" If i have turnover of Rs 50 lacs & profit is below 8% i.e. 4% and my total income is Rs. 3 lac. Shall i get my accounts audited or not????? And what if i have maintained all books of account and not opt for Sec 44AD
8 Replies
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 01 August 2014
Yes you need to get your books audited u/s 44AD........
Its good that you have maintained all books of accounts, it will be easier for auditor to audit
Shameem khan
(Article Assistant)
(80 Points)
Replied 01 August 2014
If profit is below 8% then it needs to be audited.
Rupesh Soni
(Taxation Consultant & CA final student)
(504 Points)
Replied 01 August 2014
Must have to Maintain books of acc*nt & got Tax audit by CA before 30 septmbr as u want to show Profit belw 8%
sandeep b patil
(student)
(22 Points)
Replied 02 August 2014
Yes if your profit is below 8% then you must maintenance of book of accounts & same should be get audited by CA.
radesh
(Tax Auditor)
(21 Points)
Replied 02 August 2014
Yes if Ur profit is below 8% then u must maintenance of books of accounts same should be get audited by CA
pradeep Bucha
(student)
(23 Points)
Replied 05 August 2014
Yes, u required maintain books of accounts s as per sec. 44AA of IT act 1961 & mandatory audit as per sec. 44 AB
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