44aa
This query is : Resolved
Querist : Anonymous
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?
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?
11 August 2018
you are not liable for audit in this case.
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