ITR-1 filed, can now revise it with Tax Audit (F&O) ?
This query is : Resolved
15 November 2019
ITR-1 For Salary Income Only Was Filed By The Assessee On 1st Sept 2019 For F.Y. 2018-19.
As of today, ITR Is Not Processed Yet. Can Now Tax Audit Report For F&O Business And Revised Return Including The Same Be Filed?
As of today, ITR Is Not Processed Yet. Can Now Tax Audit Report For F&O Business And Revised Return Including The Same Be Filed?
15 November 2019
Yes revised return can be filled with tax audit.
15 November 2019
Revised return along with tax audit can be filed but bear in mind that tax audit due date expired on 31.10 ( except in state of J &K) so kindly check whether the tax audit is absolutely necessary or not.
If the profit and loss in F&O(aggregate) doesn’t exceed A sum of rs 2 crore , no need of tax audit
If the profit and loss in F&O(aggregate) doesn’t exceed A sum of rs 2 crore , no need of tax audit
15 November 2019
I mean tax audit can be filed but penalty for late furnishing of tax audit might be levied on the assesse
16 November 2019
Yes, Revised return can be filed with tax audit report, but penalty can be imposed for late filing of tax audit report.
If your turnover (Aggregate in case of F&O) in less than 2 crore then you can file under section 44AD with 6% profit on turnover. [calculate which is low either penalty or tax u/s 44AD]
If your turnover (Aggregate in case of F&O) in less than 2 crore then you can file under section 44AD with 6% profit on turnover. [calculate which is low either penalty or tax u/s 44AD]
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- EXPORT COMMERCIAL INVOICE HSN CODE
- GST Rate for Catering Services
- LIC maturity claim whether taxable
- TDS AND ITR ISSUE
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
