Will it be advisable to get the books of accounts audited for FY 2013-14 & 2014-15 of trader having turnover more than 1cr. now ? Please note that the party has not received any notice from IT Department till date.
08 April 2016
He has not have received any notice from the department because he might have not filed his returns of income. Still the assessee must get his accounts audited. However, he must keep the evidence ready of reasons of his failure to do so in time to avoid penalties.
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