Filling of ITR of Business Person

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8 Points Posted on 15 September 2018
If any individual having a Turnover of RS.55lakhs from the wholesale business and Gross total income is under 250000 i.e. below 8%
Can He File ITR without Tax audit by showing Net profit approx 4-5% ?
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On 15 September 2018 at 23:18 Report
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SEO Sai Gr. Hosp.
212489 Points Posted on 16 September 2018

Yes, unless no other income from other heads of income, and not opted presumptive assessment in previous year.....

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On 16 September 2018 at 11:41
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301 Points Posted on 16 September 2018
yes he /she can do.... because his /her income below the maximum exemption limit.
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On 16 September 2018 at 12:41
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8 Points Posted on 17 September 2018
if He has opted presemptive assesment in previous year how can he exit from?
is tax audit only option?
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On 17 September 2018 at 13:12
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SEO Sai Gr. Hosp.
212489 Points Posted on 17 September 2018

Yes, as per sub-sec. 44AD(4) & (5) of IT act... 

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On 17 September 2018 at 13:20

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