Audit is mandatory
This query is : Resolved
29 August 2018
Sir,
My business turnover is INR 43.00 Lakh for 2017 - 2018. Gross profit is INR 4.43 lakh. Then INR 2.79 lakh all allowable expenses. So net profit is INR 1.64 Interest on capital is INR 1.65 lakh
After all my books shows loss of INR 3000.00 I am liable to audit my accounts??
My business turnover is INR 43.00 Lakh for 2017 - 2018. Gross profit is INR 4.43 lakh. Then INR 2.79 lakh all allowable expenses. So net profit is INR 1.64 Interest on capital is INR 1.65 lakh
After all my books shows loss of INR 3000.00 I am liable to audit my accounts??
29 August 2018
Yes , your firm is liable for tax Audit as Profits as less than 8 %
29 August 2018
Sir,
We have all digital transection. So it will treat under 6%
We have all digital transection. So it will treat under 6%
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