Turnover
This query is : Resolved
11 June 2013
IF TURNOVER OF A SOLE PROPREITOR INCREASES FROM 9 LAKHS TO 48 LAKHS WILL IT ATTRACT INCOME TAX SCRUTINY
CA PARAS BAFNA
(Expert)
11 June 2013
Generally, it does not attract scrutiny in such cases.
.
However, in such circumstances assessee must follow the measures prescribed U/s 44AD.
.
.
However, in such circumstances assessee must follow the measures prescribed U/s 44AD.
.
11 June 2013
what is to be done in case of scrutiny if bills for purchase available ?
CA.Vinita Gupta
(Expert)
11 June 2013
The Increase in Turnover cannot be a criteria for Scrutiny. Though the Sole propritor is filing return on Presumptive Basis of Taxation still this cannot be a criteria for Scrutiny.
But it is suggestible to Maintain Proper books of accounts in future
But it is suggestible to Maintain Proper books of accounts in future
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Capital gains in IT returns
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Applicability of tax on invoice
- Capital Gains Tax on Inherited Mutual Fund
- Form 144 TDS Return Validation Error – Mandatory Fields
- Form 144 TDS Return Validation error
- GSTR9 Annual Return
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
