Confirmation of audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 June 2012
( 1 ) An individual running business in Financial Year 2011-12 has sales of Rs. 58,00,000/- but he has not shown profit upto 8% instead he has shown profit of Rs. 2,28,000/-.... so is audit compulsory to him for Assessment year 2012-13..??
( 2 ) If in above question if audit is compulsory will deduction of TDS from next year compulsion to them..??
( 2 ) If in above question if audit is compulsory will deduction of TDS from next year compulsion to them..??
20 June 2012
1. Since the assessee has shown profits less than 8% AND his income exceeds the exemption limit, he is required to get his accounts audited.
2. Yes, he is liable to deduct TDS from next financial year.
2. Yes, he is liable to deduct TDS from next financial year.
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
- Leave encashment and gratuity on death of employee
- GST ON FREE SAMPLE
- Regarding selling goods
- POSH Registration
- Applicability of E Invoicing if turnover exceeds rs 5 cr
- ITC on Construction of Warehouses
- STCG on International Mutual Fund
- Advocate is authorised for formation of company as per section 7 of the company act 2013
- Write my thesis uk
- Tax Liability on Trading Account in Name of Person with Disability (Autism) Operated by Guardian
- Adt1 dsc where to affix?
- TDS Applicability on Adobe Subscription u/s 195
- Tcs claim for previous financial year
- TDS Return filing if only have 15G /15H deductions and no other payments
- Portuguese Civil Code of 1867
- IGST ITC RELATED
- GST on Taxi Service
- IMPORT OF GOODS CREDIT
Trending Online Classes
-
Online GST Course - Master the Fundamentals of GST with Practical Insights
Ruhi Joshirao19 January 2026
CAclubindia
