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1st, and 2nd Proviso's to Clause (a) to Section 44AB

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31 July 2024 Sir, I have a Partner ship firm where in I have done turnover of Rs.1,20,00,000 all of which is only banking mode, and there is a cash expenditrue to the extent of 1% of the above turnover. I have made a financials also. ie profit and loss and balance sheet. Proft is Rs.45,750, hence I hope, I can fit this income tax reutrn udner the subject provisio's and can file the return. Am i correct, kinldy advice
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
31 July 2024 The turnover of 1.2Cr is all by banking mode?
Any cash sales?
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31 July 2024 100% by bank mode only sir
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
31 July 2024 In that case Tax audit u/s. 44AB IT act, not applicable, file ITR before 31st July.
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