I have Transport business and I have less than 10 lorries. I'm maintaining books and I want to file ITR 3 and my profit is less than preemptive limit i.e. 1000 per ton per month.
Is tax audit u/s 44AB applicable to me?
3 Replies
Smit Shah
(524 Points)
Replied 30 December 2020
Yes as per section 44AE(7) the assessee is liable for tax audit u/s 44ab if he claims lower income than that mantioned in section 44AE
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 30 December 2020
Less than BEL , no need to file !
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