Easy Office
LCI Learning

Salary and business loss AUDIT

This query is : Open 
Profile Image

Profile Image

(Querist)
04 January 2022 Dear Sir,
My CTC is 11lac but I have started a flying business last year where in I incurred a loss of around 75k so which ITR do I need to file and will my loss need auditing??
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
04 January 2022 File ITR 3
No, if turnover is below specified limits..
Profile Image

Swastik Upadhyay

Profile Image

Swastik Upadhyay (Querist)
04 January 2022 What's the limit, please say



Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
04 January 2022 What is your nature of business? What is your turnover?
Profile Image

Swastik Upadhyay

Profile Image

Swastik Upadhyay (Querist)
04 January 2022 selling local cloths and turnover 2 cr
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
04 January 2022 Audit u/s. 44AB(a) of IT act applicable.
Profile Image

CA Rashmi Gandhi

Profile Image

CA Rashmi Gandhi (Expert)
11 July 2022 You need to get books audited

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links