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Income tax return
Replies (10)
HIII JATIN
AS PER MY KNOWLEDGE AS YOUR NP IS BELOW 8% YOU ARE LIABLE TO AUDIT
YOU CAN FILE YOUR RETURN AFTER GETTING YOUR BOOKS AUDITED
agree with harsh.....
you need to gets your accounts audited and then file your return by 30th sept...... or there is one more way, show your income at the rate of 8% or at such rate that your net profit still remains below taxable limit. this way you will neither pay tax nor be liable for audit....... choice is yours though i will not suggest you second option.
yes audit is applicabe in your case... gets your account audit before filling else show profit above 8%........
If yours profit is computed u/s 44ad presumptive income then audit condition otherwise no need to audit just file itr 4
Audit mandatory if profit below 8%
You have no need of audit. Just declare your your income rs.138000 or more and file return usc 44ad
100% agreed with Tribhuvan Aditya Singh
..
Audit mandatory if profit below 8%.Your firm as liable for pay the tax.
Thanks to all for ur reply
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