Tax audit applicability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 September 2015
Dear sir,
A person had a turnover of more than 25 lakh in the last year and he had conducted his tax audit for that period. Now in the current year he has a turnover of less than 25 lakh. Whether he is liable to conduct tax audit in the current year also.
Please reply.
Thanks
A person had a turnover of more than 25 lakh in the last year and he had conducted his tax audit for that period. Now in the current year he has a turnover of less than 25 lakh. Whether he is liable to conduct tax audit in the current year also.
Please reply.
Thanks
Guest
Guest
(Expert)
09 September 2015
No he is not required to conduct his tax audit if he is being a service provider having receipts less then Rs25 lacs.
09 September 2015
Please ensure, last year TAX audit was NOT conducted on account of the fact that the % profit is less than 8 % and the business is eligible business.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Eway bill for machinery reparing
- TDS exemption on resale of software
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
