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Income Tax Audit 44AB

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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.

05 July 2022 In such a case tax audit not applicable.

05 July 2022 Not applicable




06 July 2022 In this case which ITR form is applicable to proprietorship.
Does any condition to declare income @6% or 8 % of Turnover.

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.

07 July 2022 Yes, you can file ITR 3.



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