An assessee has turnover more than one crore rupees, but his total income is less than two lakh rupees. So is it okay if he gets his books of accounts audited i.e, tax audit & does not file ITR?
An assessee has turnover more than one crore rupees, but his total income is less than two lakh rupees. So is it okay if he gets his books of accounts audited i.e, tax audit & does not file ITR?
Yes, for Tax Audit we have to see Turnover ....nothing to do with Total Income...so return in the above case to be filed befor Sept 30,2013 with Tax Audit Report..
filling of ITR is mandatory for assessess falling under tax audit...
Tax audit will apply. Last date 30th September.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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