Audit applicability
This query is : Resolved
Mayur Mandli Prajapati
(Querist)
03 August 2018
IF MY GROSS TURNOVER EXCEEDS 1 CRORE AND MY PROFIT PERCENTAGE IS ALSO LESS THAN 8%, UNDER WHICH SECTION I'M LIABLE TO DO TAX AUDIT ?
03 August 2018
ITR 4 with proper P&L Balance Sheet finalized by Auditors
Mayur Mandli Prajapati
(Querist)
03 August 2018
I WAS ASKING ABOUT THE SECTION IN WHICH I AM LIABLE TO CONDUCT TAX AUDIT .
CA R SEETHARAMAN
(Expert)
03 August 2018
Sub section (5) of section 44AD gives an option to the assessee to declare profit lower than 8% / 6%, by maintaining books of account etc. as required under section 44AA and by furnishing audit report as required under Section 44AB.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- SALARY CAN BE CAPITALIZE
- TDS on purchase of under construction property from a reseller
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Non filing of I T Returns
- TDS on Fixed Assets purchased
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
