I t return
This query is : Resolved
27 August 2019
FY 18-19
GST registered 'individual' dealer
Sale about 30 lakh pa
GP 7-8% NP- Rs 60000/ i.e 2%
Sir my query is whether it is mandatory to File IT return.
Whether Audit is required
No IT return filed for last few years as business was in loss. Pl advice
Thanking you Anil
GST registered 'individual' dealer
Sale about 30 lakh pa
GP 7-8% NP- Rs 60000/ i.e 2%
Sir my query is whether it is mandatory to File IT return.
Whether Audit is required
No IT return filed for last few years as business was in loss. Pl advice
Thanking you Anil
28 August 2019
Audit and filing of return not required as you are earning income below 2.50 lacs.
28 August 2019
If my business is retail even then the answer will be same
28 August 2019
If my business is retail even then the answer will be same ?
28 August 2019
Yes............................................................
28 August 2019
Another view is that as NP is less than 8% it is mandatory to have an audit report or the assessment will be done assuming NP 10%.is this right?
29 August 2019
Audit not required as income below taxable limit.
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