16 March 2015
MY NAME IS MADHU. I AM A RETAIL TRADER HAVING TURNOVER FOR THE FY 13-14 IS RS 69,52,180/- & NET PROFIT ON THE TURNOVER IS RS1,80,260/- AND I HAVE NO OTHER INCOME. WHETHER TAX AUDIT IS MANDATORY OR NOT?
16 March 2015
SIR, AS MY INCOME IS BELOW 2,00,000/- AND THERE IS A PROVISION IN THE ACT THAT IF YOUR INCOME FROM 44AD INCLUDING ALL OTHER INCOME IS BELOW MAXIMUM AMOUNT CHARGEABLE TO TAX, THEN YOU DONT HAVE TO CONDUCT AUDIT OF SUCH BUSINESS.....AM I CORRECT PLZ REPLY
CAclubindia
