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44aa

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 August 2018 Please resolve my following query.

For FY 17-18,
Turnover = 34 Lakh
Profit = 1 Lakh
Profit % of turnover = 3%

I am having non specified business as per section 44AA.

Can I show such 3% of profit?

Am i liable for tax audit in such case?

What to do avoid tax audit in above case?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
11 August 2018 you are not liable for audit in this case.
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