Is it mandatory for tax audit
This query is : Resolved
19 January 2015
If Net Profit is Less 8% out of Total Turnover is More Than 80 Lacs, but not exceeding of Rs.1 Crore.
Nature of Business "Printing of Books"
Kindly Guide.
Nature of Business "Printing of Books"
Kindly Guide.
19 January 2015
Yes it is mandatory for tax audit provided profit is more than basic exemption limit.
19 January 2015
there are some nature of business exempt from tax audit, whether its net profit is less than 8% or more than, so i have a doubt "Printing of Books", is it exempt or not.
19 January 2015
If profit is 8% or more and turnover not exceeding 1 crore tax audit not applicable. For printing business no exemption.
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