Dear Experts,
my business is in loss and turnover is 5 lakhs. Based on this, my profit/loss is below 8% of Turn over. whether tax audit is applicable?? And my doubt is about, whether 8% of turnover is taken only for 44AD, in this regards please give me a source for getting clear cut effect.
Thanks for sharing your wisdom sir!!
Abic and Mani Chartered Accountants
Kottayam
B.Com
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M N Rao & Associates LLP
Vijayawada
CA Inter
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CCI
Pro
CAclubindia
