Question

what do you think which profit method is convenient for co-operative society savings scheme?

Answer 1

Answer:

Tax audit is compulsory if turnover of society (engaged in business) is more than ` 1 crore (w.e.f. A.Y. ... For example, housing societies in years of construction of building premises and redevelopments of their properties, provisions of section 44AB would not apply as there is no business activity