It return

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Sahad (Querist)
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14 September 2012 I WOULD LIKE TO ASK ALL EXPERTS HERE AND I AM SURE I WILL GET THE BEST ANSWER HERE ONLY AT CACLUBINDIA

THE QUESTION IS

IF THE PROPRIETORSHIP CONCERN WHOSE WHOSE GROSS TURN OVER EXCEEDS THE LIMIT OF RS.6000000 AND HAVE AUDITED HIS BOOKS OF ACCOUNTS BUT HIS TAXABLE INCOME IS FALLING WITHIN THE EXEMPTION LIMIT OF RS 180000 FOR THE A.Y 2012-13. IN THE ABOVE CASE IS IT NECESSARY FOR THE PROPRIETOR TO FILE RETURN?????

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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14 September 2012 According to me, Return is not required to be filed.
Only Audit report is to be submitted on of before the due date of 30th september 2012

Sahad

Sahad (Querist)
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14 September 2012 is that accurate according to which section,????? its a big question because m article student and i have 3 cases whose turnover exceeds 1 crore but net income is only 90000 or 100000

Sahad

Sahad (Querist)
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14 September 2012 thank you so much dear sir amit s kedia. can you please tell me the section of the same answer given by you or in act where i can find this answer??

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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14 September 2012 The requirement in the act to file the return is under section 139.
Section exempts the person from filing the return if his total income does not exceed the maximum amount which is not chargeable to income-tax.
Tax Audit has nothing to do with return filing and there no requirement u/s 44AB as well to file the return.
Statutorily, it is not required to file the return but AO in specific cases may ask to furnish the return u/s 142

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Sahad

Sahad (Querist)
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14 September 2012 THANK U SO MUCH SIR.

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Sahad

Sahad (Querist)
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14 September 2012 THANKS HITTED TO YOU

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