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.
CA R SEETHARAMAN
(Expert)
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.
CA R SEETHARAMAN
(Expert)
19 January 2015
If profit is 8% or more and turnover not exceeding 1 crore tax audit not applicable. For printing business no exemption.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Nursery business
- Tax on Amount transferred in HUF Account
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Intimation under section 245
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
