TaxTMI 
TaxTMI 
Whether tax audit is required when opting for section 44AD and simultaneously reporting separate commission income in P&L?
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....hether tax audit is required when opting for section 44AD and simultaneously reporting separate commission income in P&L?<br>Query (Issue) Started By: - Dipika Shetye Dated:- 30-8-2026 Income Tax Got ....
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....0 Replies <br> Income Tax<br>I am an individual carrying on business and proposing to declare income under section 44AD. My turnover/gross receipts during the year are approximately Rs.1.37 crore. Cas....
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....h receipts as well as cash payments exceed 5% of total receipts/payments. However, I am declaring presumptive income higher than the prescribed 6%/8% under section 44AD. In addition, I have commission....
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.... income of around Rs.4 lakh, which I am showing separately in the Profit & Loss Account and not under the presumptive scheme. While validating the return, the ITR utility is giving an error stating th....
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....at since turnover is more than Rs.1 crore and cash receipts/payments exceed 5%, tax audit under section 44AB is applicable. Pls Guide me as per Income Tax Act. Whether tax audit is required<br>***<br>....
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