Menu
2020.21 audit regaring
in 2020.21 our turover 95 lack but net profit was less than 8 percent approx 6.05 percnt so we completed audit now 21.22 our net profit 12 percent so wat can i do ....
Replies (4)
In case of Individuals or HUF, If the audit was carried u/s. 44AB(e) of IT act, you need to file tax audit report for next 5 years, mandatorily.
Any other option
No option other than getting your books of accounts audited as once you opt out of 44AD you can't opt it for next 5 years
Check if the presumptive assessment u/s. 44AD was wrongly opted. if so, write about it to ITO for modification.
Recent Threads
- How to learn about a deceased family member's inve
- Has Anyone Tried Study4Exam for Exin Certified Dat
- Query about cash withdrawals and tax/ITR filing im
- TDS on partners remuneration u/s 194 T
- Income Tax Financial Year 2025-26
- GST Rate RCM
- AI in ERP and System Audits - Why Auditors Should
- Can updated return be filed having salary income a
- Save LTGC on land sale
- Property given on rent- ITC
Related Threads
CAclubindia
