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Tax Audit under section 44AD with effect from the AY 2017-18

Income Tax - Started By: - Paari Kumara Raj - Dated:- 7-6-2016 Last Replied Date:- 7-6-2016 - Section 44AD As per newly inserted sub section 5 of section 44AD, for the Assessment year 2017-18, even if a person (whose turnover is below ₹ 2 crore .....

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ars. Presuming that an assessee for the AY 2017-18, has an annual turnover of ₹ 1 crore and his net profit is ₹ 1 lakh only (lower than 8%) . And he does not want to avail 44AD. According to the newly inserted subsections 4 and 5, he will .....

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