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Books of accounts Audit 44AB

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Naveen Kumar

729 Points Posted on 18 August 2022

Dear Sir,

In financial year 2019-20 GP 8.07% and NP 4.31 In financial year 2020-21 GP 6.25 and NP 2.31 (COVID) and financial year 2021-22 GP is 8.07% and NP 5.25% Books cover under section 44AB so can we face any issue from IT department.

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Quick Summary

This discussion addresses concerns about potential issues with the IT department regarding books of accounts covered under Section 44AB. The user provided profit margins for FY 2019-20, 2020-21, and 2021-22 and asked if these would cause problems. The response suggests that issues are unlikely unless there are SFT transactions related to bank deposits.