Tax audit
This query is : Resolved
21 July 2013
if a person has turnover below limit say rs.98 lcs and its not mandatory for him to audit his books of accounts..which will be his minimum tax liab. and as a professional what advice we shall give to him
pls answer as early possible
pls answer as early possible
22 July 2013
Greetings
Dear Salma
If he is not ready to get his accounts audited then at least 8% of turnover should be shown as Net profit.
If he wants to show less profit then accounts would be required to audited.
It is an absolute discretion of client, whether he wants to pay tax or audit fees.
Regards
CA Akriti Bhatia
Dear Salma
If he is not ready to get his accounts audited then at least 8% of turnover should be shown as Net profit.
If he wants to show less profit then accounts would be required to audited.
It is an absolute discretion of client, whether he wants to pay tax or audit fees.
Regards
CA Akriti Bhatia
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- SALE BILL AGAINST GOODS RETURN
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- E way bill for tractors
- Specified Profession
- STCG on ETF gold & silver
- TAN for Partnership
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
