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Profits from professional income and business oncome
Can we show profit from business/ profession less than 8% or 50% as the case may be if proper books of account are maintained and if we don't opt presumptive scheme of income tax without any tax audit.
Replies (6)
No
but why ?? if we have done all our expenses via bank then there is any need of tax audit
Bcoz,
If we will show less than the said limit the details will be authorized by a CA through TAX AUDIT...
If we will show less than the said limit the details will be authorized by a CA through TAX AUDIT...
So the conclusion is that if books of accounts are maintained and we want to show profit less than the specified limit then it will pass through tax audit
yes it should be audited if we show less 8% /50%
Yes... It will through Tax Audit...
But, In case the T/O limit is less than the Tax Audit and the Profit is BEL then You can avoid TA. But, it's applicable to Individuals...
But, In case the T/O limit is less than the Tax Audit and the Profit is BEL then You can avoid TA. But, it's applicable to Individuals...
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