Question ID :
44543
Audit Under Section 44AB(E)
My query is that one of my client is opted sec 44AD last year having turnover of 1.20 crore but for this year having turnover of 1.70 crore and profit is 8.5 lakh (5%) then under which clause audit is applicable 44AB(A) Or 44AB(E)
Posted by
ANIL SHARMA
on
Aug 31, 2023
Filed Under
AUDIT
Audit is applicable u/s 44AB(e).
Posted by
B.CHACKRAPANI WARRIER on
Sep 01, 2023
Answer ID :
85149
It is applicable under section 44AB(e).
Posted by
CA. chunauti dholakia on
Sep 02, 2023
Answer ID :
85179
CLAUSE 44AB(A) IF YOUR TURNOVER EXCEEDS ONE CRORE AND YOU ARE OPTING FOR TAX AUDIT ,
44AB(E) ALSO IF YOU ARE OPTING OUT OF 44AD AND TAX AUDITS GETS APPLICABLE IN THIS CASE,
YOU NEED TO MENTION BOTH CLAUSES WHICH IS ALLOWED
Posted by
CA Shrawan Suthar on
Oct 12, 2023