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Regarding Rule 86B
I have taken registration in Apr 2021 and crossed monthly turnover 50 lakhs for more than one month.As newly registered I have not filed previous year IT for 86B exemption. So 86B is not applicable to me. plz clarify issue. Thanking you
Replies (2)
Quick Summary
Restriction under Rule 86B is applicable to you in the month/s TO exceeded 50 lakhs.
yes it is applicable as soon as your turnover exceeds Rs 50 lakhs in a month.
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