Regarding tax audit
This query is : Resolved
06 November 2017
IF A PROFESSIONAL HAVING RECEIPT 23 LAC SHOWS HIS PROFIT 7 LAC, WHETHER TAX AUDIT REQUIRED OR NOT.
06 November 2017
Audit is required for a professional if profit shown is less than deemed profit under section 44ADA (i.e. 50% of Gross Reciepts) and total income exceeds maximum amount not chargeable to tax. Since you satisfy both the conditions, tax audit will be applicable in your case.
01 October 2021
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