banner_ad

Tax audit

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
29 April 2017 SIR
I RUNNING MASALA AGENCY ITEMS

2. BUT NO ACCOUNTS MAINTAIN F.Y.2016-2017- A.Y.2017-218

3. MY TOTAL TURNOVER EXCEED RS.1 CRORE 45 LAKHS (1.45)

4. CAN I FILE ITR4(SUGAM)

5. 1 CRORES CROSSING BUT WE CALCULATE DIRECTLY 14500000*8%
IS IT OK OR NOT-44AD
6. IS IT TAX AUDIT APPLICABLE

7. PLEASE CLEARLY ANSWER ME

8. MASALA AGENCY PRODUCT IS IT APPLICABLE THIS ITR4SUGAM FORM

9. PLEASE INFORM ME

Profile Image

CS Advocate Abhishek Goyal

Profile Image

CS Advocate Abhishek Goyal (Expert)
02 May 2017 You can show income u/s 44AD as turnover/gross receipts upto Rs 2 crores can be shown u/s 44AD as long as 8% minimum net profit is declared. But you can show u/s 44AD only if you are trader in masala business if you are earning commission purely from masala agency then you are not eligible as agency or commission income cannot be declared u/s 44AD.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details