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Which Party Engages the Audit Firm?Which Party Engages the Audit Firm?

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Accounting

Which Party Engages the Audit Firm?

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Ans As per section 44AB following persons are compulsorily required to get their accounts audited A person carrying on business if his total sales turnover or gross receipts as the case may be in business for the year exceed or exceeds Rs 1 crore This provision is not applicable to the person who opts for presumptive taxation scheme under section 44AD and his total sales or turnover does not exceeds Rs 2 crores A person carrying on profession if his gross receipts in profession for the year exceed Rs 50 lakhs An assessee who declaus profit for    See Answer
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In: AccountingWhich Party Engages the Audit Firm?Which Party Engages the Audit Firm?

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