If X pvt ltd has a commission income which is 10,00,000 and has a profit of 26000,then does this company will come under the criteria of tax audit ,as it has its profit percentage is 2.6% i.e less then 8%.So will it come under tax audit & under Which Section?
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Does the under problem comply for tax audit?
Replies (1)
Sec. 44AD is not applicable to a company. Even if it is not a company assessee, this scheme is also not applicable for a person earning income from commission or brokerage.
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