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Isn't there amendment in fy 2016-17 thay one can declare lower profit than 8% and 6% if his turnover less than 1 cr then he is not required to have tax audit if he has not opted for 44 AD in previous financial year..please clear the doubt |  |
Yes, and clarification about the same is sought from ITD by ICAI........ because of deemed profit provision of 6/8%... for eligible assessees...
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Isn't there amendment in fy 2016-17 thay one can declare lower profit than 8% and 6% if his turnover less than 1 cr then he is not required to have tax audit if he has not opted for 44 AD in previous financial year..please clear the doubt | |
Yes, and clarification about the same is sought from ITD by ICAI........ because of deemed profit provision of 6/8%... for eligible assessees...
| Originally posted by : Divya Sri | ||
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I forget to enter share of profit to partners in ITR 5 ...is there any problem.. If so what is the solution | |
For AY 2018-19, you can revise the return u/s. 139(5); (no late fees applicable)
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