Income Tax Audit 44AB
This query is : Resolved
Quick Summary
05 July 2022
Hello sir,
Our Business turnover is up to 1.20 crore and cash receipt & payment is less than 5%
Does Income Tax Audit 44AB applicable to us.
Our Business turnover is up to 1.20 crore and cash receipt & payment is less than 5%
Does Income Tax Audit 44AB applicable to us.
CA R SEETHARAMAN
(Expert)
05 July 2022
In such a case tax audit not applicable.
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CA Rashmi Gandhi
(Expert)
05 July 2022
Not applicable
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06 July 2022
In this case which ITR form is applicable to proprietorship.
Does any condition to declare income @6% or 8 % of Turnover.
Does any condition to declare income @6% or 8 % of Turnover.
CA R SEETHARAMAN
(Expert)
06 July 2022
File ITR 4 and declare 6% profit on non cash sales and 8% on cash sales.
07 July 2022
Thanks for your reply
Sir, Can we file Income Tax ITR3 form. We are maintaining books of accounts.
Sir, Can we file Income Tax ITR3 form. We are maintaining books of accounts.
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CA R SEETHARAMAN
(Expert)
07 July 2022
Yes, you can file ITR 3.
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