Is there any benefit of audit
This query is : Resolved
14 September 2022
If i fill business normal return upto 5 lac then no tax levied. but what if my turnover is 10 lac and choose to do audit so my tax payable is nil now ? is this benefit of audit ? because if i doesn't do audit then much more tax i have to pay because turnover is 10 lacs.
I am a fresher and do not have much idea about auditing.
I am a fresher and do not have much idea about auditing.
15 September 2022
For 10 lacs turnover audit not applicable file ITR without audit no tax payable.
Audit required only in case of turnover more than 1 crore.
Audit required only in case of turnover more than 1 crore.
Message likes :
1 times
15 September 2022
But sir if my income is 10lac and fill itr 3 accordingly then same tax payable in non audit and audit case also
15 September 2022
Yes, same tax payable in both the cases.
Message likes :
1 times
15 September 2022
Ok sir thank you so much
15 September 2022
Ok sir thank you so much
15 September 2022
You are welcome......
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
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Share accounting-->fifo - capital gain - period as per fifo?
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- BIS Certificates
- Salary and pension received from Asian Development Bank
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
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
