Audit & section 44ad
This query is : Resolved
shivam jain
(Querist)
13 July 2018
Suppose i am dong business of Kirana .....
My annual turnover goes around 70 lakh....
and profit % is 1%....
so i can not go for 44AD ...otherwise i would have unnecessary tax liability.....
so whether audit is mandatory for me ????
OR I can go for any other option ??????
My annual turnover goes around 70 lakh....
and profit % is 1%....
so i can not go for 44AD ...otherwise i would have unnecessary tax liability.....
so whether audit is mandatory for me ????
OR I can go for any other option ??????
CA Ankit R Momaya
(Expert)
13 July 2018
Yes, audit is mandatory in the above scenario.
shivam jain
(Querist)
13 July 2018
whether he can not directly fill ITR 3 & show his profit n that ??????
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
- EPF ECR NEW FILE SEP 17TH 2026
- Under marginal scheme
- TAX AUDIT ON PROFESSIONAL INCOME
- TDS on Fixed Assets purchased
- Oct 2025 Invoices
- GST on Renting godown to KFCSC for Storage of Raagi
- Non filing of I T Returns
- Capitalgain tax purposes for valuation report compulsory
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Import of Software Service.
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
