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Filing of return u/s 10(23c)(iiiad)
As per the provision, if the annual receipts is less than 1 crore than entire receipt is exempt from tax. Whereas the cpc processed the return and treated as defective. The reason stated in the notice is income is more than 2 lakhs. Hence audit is compulsory. kindly resolve the issue
Replies (1)
yes,audit is compulsory when the income exceeds the non-taxable limit.
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