Tax Audit U/s 44AD
This query is : Resolved
GANESH DUTT JOSHI
(Querist)
30 September 2016
I am a retailer of furniture goods and my turnover below 1 crore and my profit is 6 lac aprox for the FY 2015-16 should go for tax audit
CA SAGAR M. AHUJA
(Expert)
30 September 2016
If Profit is 8% or More of Turnover Than you don't need to go for Audit, You can file only ITR.
Thanks.
Thanks.
GANESH DUTT JOSHI
(Querist)
30 September 2016
Its mean my profit consider under 44AD for tax auditing
CA SAGAR M. AHUJA
(Expert)
30 September 2016
Yes your profit percentage of turnover is decide whether you have to audit your accounts or not..
Thanks.
Thanks.
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