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Filing of Return u/s 148
Is it compulsory for an assessee to get done a tax audit if he is filing return u/s 148 of Income tax act,1961 and his gross receipts are 1.5cr and book profit is less than 6% of the total gross receipts.
Replies (3)
If you have already filed report previously in the assessment year then NO.
if you were non filer and are filing return only against 148 then technically you need to file audit report.
but i have seen people not filing audit report and never getting getting any defective notice or penalty notice for not filing audit report.
hence you may ask your AO about this.
if you were non filer and are filing return only against 148 then technically you need to file audit report.
but i have seen people not filing audit report and never getting getting any defective notice or penalty notice for not filing audit report.
hence you may ask your AO about this.
Can u provide any case laws to support it
I am not aware of any decided matter.
i have given you from own experience and interpretation of the act
i have given you from own experience and interpretation of the act
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