How much % ratio
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 April 2015
Dear Sir,
A Proprietorship co. of (Guest House) how much show Profit if He want Audit and without Audit
Regards,
Jagdish Kumar
A Proprietorship co. of (Guest House) how much show Profit if He want Audit and without Audit
Regards,
Jagdish Kumar
CA Subham Verma
(Expert)
07 April 2015
1) If gross revenue is more than or equal to 1.00crore, Audit u/s 44AB of IT Act is mandatory.
2) If gross revenue is less than 1.00crore and declared profit/net profit margin on sales is less than 8%, audit is mandatory.
3) If gross revenue is less than 1.00crore and declared profit/net profit margin on sales is equal to or more than 8%, audit is not mandatory.
2) If gross revenue is less than 1.00crore and declared profit/net profit margin on sales is less than 8%, audit is mandatory.
3) If gross revenue is less than 1.00crore and declared profit/net profit margin on sales is equal to or more than 8%, audit is not mandatory.
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