Is it compulsory to file form 3CB-3CD if we have net profit less than 8% of total turnover and total sales less than 1 crore?
Menu
Filing Form 3CB-3CD
Replies (6)
Quick Summary
Not mandatory if sec. 44AD(4) of IT act, not applicable. In short sec. 44AD not opted out in any of the preceding years...
Turnover alone is not criteria
One is turnover limit
Business Loss ( mandatory audit)
% of profit ( less than specified , Mandatory tax audit)
voluntary audit
One is turnover limit
Business Loss ( mandatory audit)
% of profit ( less than specified , Mandatory tax audit)
voluntary audit
If there is business loss no tax audit required, correct me if im wrong
How much is the specified limit for tax audit
| Originally posted by : Jomon P B | ||
 |
How much is the specified limit of profit for tax audit |  |
5 Crores for business & 50lakhs for profession .
Loss category : Audit is must
% of profit 6/8/50% below this % also need to audit the books
Loss category : Audit is must
% of profit 6/8/50% below this % also need to audit the books
Recent Topics :
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
- Query regarding exemption under Section 10(10AA) &
Related Topics :
CAclubindia
