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Tax audit applicable or not

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(Querist)
16 September 2013 My self is Labour Contractor and I have received Contract fees Rs.80,00,000 + Service Tax collected and Paid Rs 9,88,800 and Net profit is Rs. 6,70,000 during FY 2012-2013. Should my books are applicable under Tax Audit ? Please help me Sirs,
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CA Parul Saxena

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CA Parul Saxena (Expert)
16 September 2013 Not applicable as turnover does not gets exceeds limit of Rs.100 lakhs.....
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Pradip

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Pradip (Querist)
16 September 2013 Thanks Sir, and want about 8 % formula it is applicable and 8 % on only net contract charges Rs. 80,00,000/- or net contract charges Rs 80,00,000 + Service Tax Rs. 9,88,800 = Total Rs. 89,88,800/- Please confirm me Sir,
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Pradip

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Pradip (Querist)
17 September 2013 Thanks Sir, and want about 8 % formula it is applicable and 8 % on only net contract charges Rs. 80,00,000/- or net contract charges Rs 80,00,000 + Service Tax Rs. 9,88,800 = Total Rs. 89,88,800/- Please confirm me Sir,
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Ganeshbabu K

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Ganeshbabu K (Expert)
19 September 2013 service tax collected is not income,,
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no need to do tax audit ,,you can also opt for 44AD AND FILE ITR4S
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Ganeshbabu K

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Ganeshbabu K (Expert)
19 September 2013 service tax collected is not income,,
..
.
.
no need to do tax audit ,,you can also opt for 44AD AND FILE ITR4S
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Pradip

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Pradip (Querist)
19 September 2013 Thank you very much Sir
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