in ay 2015-16 if a prop"s firm have a turnover of rs. 85 lacs & earned profit 2.48 lacs,
is he liable to get tax audit ?
rajkumar goyal (manager) (67 Points)
17 June 2015in ay 2015-16 if a prop"s firm have a turnover of rs. 85 lacs & earned profit 2.48 lacs,
is he liable to get tax audit ?
sushil kumar
( CA Final-Audit Assistant)
(528 Points)
Replied 17 June 2015
yes, you are liable for tax audit because net profit is less than 8%.
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