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8% net profit

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 March 2014 hello
please give me correct ans.

mfg. unit and her t.o. is rs. 55,00,000/-
and net profit is rs. 171000/- ( 3.10% )
- liable for income tax audit ?
and her other sources income is ( comm. income ) 50000/- and tax pay amt 2500/-rs.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
22 March 2014 given that total income is in excess of exemption limit, you shall be liable for tax audit under 44AB.
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