Net Profit & GP FY 2022-23
This query is : Resolved
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29 March 2023
Respected Sir,
How much GP and NP Show in PL account means Can we increase 1 to 2% from last year means how much increase from Last year if Turnover increase Rs.40 to 50 Lacs Previous year GP and NP 7.21 & 2.23 Current year 8.25 & 3.23 is Justifiable please suggest we are confused (about book cover audit )
How much GP and NP Show in PL account means Can we increase 1 to 2% from last year means how much increase from Last year if Turnover increase Rs.40 to 50 Lacs Previous year GP and NP 7.21 & 2.23 Current year 8.25 & 3.23 is Justifiable please suggest we are confused (about book cover audit )
CA R SEETHARAMAN
(Expert)
29 March 2023
The above profit is justified no need for audit. Declaring 8% net profit is justifiable.
CA R SEETHARAMAN
(Expert)
29 March 2023
The above profit is justified no need for audit. Declaring 8% net profit is justifiable.
29 March 2023
Sir, NP is 3.23% and we Cannot declare 8% and we have to continuous audit 5 Years
So please advise
So please advise
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CA R SEETHARAMAN
(Expert)
29 March 2023
If you are not tax audited earlier year no need for tax audit now even below 8% profit.
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