Audit case
This query is : Resolved
Mohd Nasruddin
(Querist)
24 July 2019
Hi expert,
It is a request with respectful regarding audit case. I want to know that we had audited individual return for the financial year 2017 to 2018 because our turnover exceed so we had filed income tax return in audit by CA. And paid the minimum tax under audit. It was first year of audit. There was turnover 98 lakh rupees in the financial year 2017-2018. But there is turnover 28 Lakh rupees in the financial year 2018-2019. May I file and pay the income tax on 44AD, 8%.
Best regards,
Mohd Nasruddin
It is a request with respectful regarding audit case. I want to know that we had audited individual return for the financial year 2017 to 2018 because our turnover exceed so we had filed income tax return in audit by CA. And paid the minimum tax under audit. It was first year of audit. There was turnover 98 lakh rupees in the financial year 2017-2018. But there is turnover 28 Lakh rupees in the financial year 2018-2019. May I file and pay the income tax on 44AD, 8%.
Best regards,
Mohd Nasruddin
Shashikant Varshney
(Expert)
30 July 2019
Declare 8% income and pay tax on that. It is a better idea.
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