How many income decaler u/s 44af fy 2012-2013

bijendra kumar pandey (Querist) 06 June 2013 This query is : Resolved
i am retail dealer my total turn over is 40,10,950.00 i am decal er income 6% total turn over

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Amritesh Mishra (Expert) 07 June 2013
Dear
your question is not quiet clear as language is vague. In spite I am trying to resolve your query on the basis what I perceived.

section 44AF is not applicable from the assessment year 2011-12. Retail trader is covered from the assessment year 2011-12 by section 44AD. Section 44AD lays down that audit of account is not compulsory if profit is 8% or more of total turn over. If you declare income 6% of total turnover, you will have to get your account audited.

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