Section 44-ad
This query is : Open
07 July 2017
ONE PERSON HAS STARTED BUSINESS IN PROPRIETORSHIP. HIS TURNOVER IN F.Y. 2016-17 IS 2700000 AND SUFFER LOSS OF 200000. SO, HE IS NOT SHOWING PROFIT @ 8% OF TOTAL TURNOVER. CAN HE LIABLE FOR AUDIT UNDER SECTION 44-AD.
07 July 2017
Not liable as turnover ia below taxable limit.
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