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Arun Garg

18-Jul-2013 , 07:26:25 pm

yes, tax will be conducted as the firm has not shown presumtive 8% profit

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SUBHASH KUMAR JHA

19-Jul-2013 , 12:33:14 pm

As per section 44AD if any person opt for presumptive taxation scheme then they neither needs to maintain books of account nor get their accounts audited So you don't need to Tax Audit