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AUDIT REQUIRED OR NOT?


saurabh sawlani   21 September 2020

saurabh sawlani

 118 likes  1670 points

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Ek proprietorship firm hai... uska annual turnover 35 lac hai...lekin uska actual profit e 4.50% hai.. toh tax audit krni padegi ya nhi??

regards,

avater

Anirban Dey   21 September 2020

Anirban Dey

 1 likes  9 points

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1 cr ke upar audit lagta hai na?

avater

Vishesh Surana   22 September 2020

Vishesh Surana

 368 likes  5738 points

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No audit required if books of Account maintained ,need to fill balance sheet and profit and loss Account in ITR

saurabh sawlani   22 September 2020

saurabh sawlani

 118 likes  1670 points

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Lekin vishesh sir profit toh 8% se kam hai na??
Or esa ho skta hai kya ki me GST k liye profit 4.50% hi show kru... or tax audit se bachne k liye ITR me profit 8% or above show kru...

sir ji ye concept thoda clear kro na

avater

Vishesh Surana   22 September 2020

Vishesh Surana

 368 likes  5738 points

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No audit required as your turnover below threshold limit, provided you are maintaining proper books of accounts.

Question of profit do not arise as you are not opting for Presumptive Scheme


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