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Audit u/s 44ad

Tax queries 465 views 3 replies

Gaurav

MBA

34 Points Posted on 14 September 2014

I earn my income online through freelancing and I file income tax through ITR 4S under presumptive income.

This year my turnover has exceeded 1 crore so I have to submit an audit report along with the ITR.

Please let me know what to do as I have not kept books of accounts as I thought that this year too, I will file ITR 4S but did not realize that turnover has exceeded the maximum limit.

Can I contact a good CA and give him my bank account statements? Is that enough for audit?

Or can I file return through ITR 4 without audit?

I don't have a registered company.

Please help, I am really scared.

Thanks

Replies (3)

Dixit

CA Final

2405 Points Posted on 14 September 2014

Yes plz contact gud CA. He can give to you a way on this matter.

Gaurav

MBA

34 Points Posted on 15 September 2014

someone please help!

Dixit

CA Final

2405 Points Posted on 15 September 2014

Gauravbhai its depend on CA that u provide Bank Statement for audit. I think it is not enough for audit. So, yesterday also I suggest go to gud CA. He give u a way in this situation.