TAX AUDIT FOR FASHION DESIGNER
This query is : Resolved
26 June 2023
Hello All,
My mother is running a business as a fashion designer, she designs dresses for her customer, there is no purchase of material or sale of material but just job work charges and tailoring charges. Her all receipts and payments are in cash. we make payment to tailors in cash and deposit balance amount in bank. our annual turnover is Rs. 8 Lakhs and expenses are 6 lakhs. does she need to get tax audit?
Her other sources of income are interest on FD, Share market dividends which are amounting to
My mother is running a business as a fashion designer, she designs dresses for her customer, there is no purchase of material or sale of material but just job work charges and tailoring charges. Her all receipts and payments are in cash. we make payment to tailors in cash and deposit balance amount in bank. our annual turnover is Rs. 8 Lakhs and expenses are 6 lakhs. does she need to get tax audit?
Her other sources of income are interest on FD, Share market dividends which are amounting to
Dhirajlal Rambhia
(Expert)
26 June 2023
No. Tax audit for the business is not applicable with annual turnover of Rs. 8 lakhs.
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