Tax audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 July 2013
if a firm carryin on business of mobile sets incurred loss of 70000 with turnover 9lacks.... is there chance of tax audit... pls explain with reason
CA. RICHI SAXENA
(Expert)
20 July 2013
Tax Audit is a applicable in case the Turnover Exceeds Rs.1 crores. As your Turnover is well below the limits so you need not go for Tax Audit.
You will have to file ITR 4 and show therein all the relevant details.
You will have to file ITR 4 and show therein all the relevant details.
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