Dear sir,
My client total turnover is 1core 80 lac & he want to file his return with presumpted income.
and if he want to audit for next year
can applicable for next year audit.
Menu
Presumpted income
Replies (1)
If You have a Business income Which is eligible for Presumptive Taxation u/s 44AD, than you can file return u/s 44AD (with profit not less than 6%/8% as the case may be) if your Turnover is below 2 Crore without any tax audit.
But in next year, if your turnover cross the limit of 2 crore than you are required to do Tax audit u/s 44AB for that Year.
But in next year, if your turnover cross the limit of 2 crore than you are required to do Tax audit u/s 44AB for that Year.
Recent Topics :
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
- ROC FILINGS FY2025-26
- Mismatch in 26AS
- How Can a Trader Utilise Approximately ₹1.20
- How Can Law Students Present Papers at Conferences
Related Topics :
CAclubindia
