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of audit of accounts under section 44AB

 

According to existing provisions every person carrying on business is required to get his accounts audited if the total sales exceeded Rs. 2,00,00,000/-.

It is proposed to insert a proviso to provide that the above requirement will not apply to a person whose gross receipts do not exceed Rs. 2,00,00,000/-and who declares profits in accordance with presumptive basis u/s. 44AD(1).

 


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