Tax Audit Applicability Esrar

This query is : Resolved

Esrar Ahmed (Querist)
Follow

02 August 2023 There is a person doing business and he was filing income under 44AD as the turnover is less than 2 Crores. And for the current FY 22-23 his turnover is more than 3 Crores. Can i file the ITR returns without Audit as per the new las of 5CR.

If Audit is not applicable then in which ITR we have to file can we take the Income in 44AD only???

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

02 August 2023 He can file ITR without audit if his cash receipts as well as cash expenditures are less than or equal to 5 % of total receipts and expenditures respectively. Otherwise, tax audit will be applicable.
He can file ITR 3 under normal assessment.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

11 September 2024 Good Luck.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Adesh Mahajan

Sharad Jain

CMA Sajin Odupara

vinal

sunjeev batra

Subscribe Now

Tax Audit Applicability Esrar

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Accountant

Senior Executive

GST CONSULTANCY

GST CONSULTANT

Manager- Finance and Compliance