Professional turnover
This query is : Resolved
11 July 2018
Sir,
my friend is doctor he had shown gross receipts 16lakhs and Net profit shown 12% for the Ass year 2017-18 and he submitted as per accounts maintained
One auditor raised the doubt he shown less than 50% and his accounts get his audited as per section 44ADA is it correct or not
Turnover limit is below audit and maintained accounts and shown profit 12%
please kindly explain
Thanking you
my friend is doctor he had shown gross receipts 16lakhs and Net profit shown 12% for the Ass year 2017-18 and he submitted as per accounts maintained
One auditor raised the doubt he shown less than 50% and his accounts get his audited as per section 44ADA is it correct or not
Turnover limit is below audit and maintained accounts and shown profit 12%
please kindly explain
Thanking you
11 July 2018
Auditor's view is correct. Also see https://www.caclubindia.com/experts/gross-receipts-audit-limit-2672564.asp
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
- Cheque bounce intimation letter
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
