This discussion clarifies profit margin requirements for filing ITR-3, particularly for businesses with a turnover around £1 crore. It explains the mandatory 6-8% profit margin rule to avoid a tax audit. The conversation also touches on the potential differences in profit percentages declared for GST versus Income Tax returns, and the implications of a balance sheet audit.
Or shiva sir meri ek query hai... gst file ki application laga di hai... lekin jab aadhar authentication k liye mail aata hai na usme aadhar otp nhi aa rha hai kyunki vo num. band ho gye