banner_ad

Return filling defect

287 views 6 replies
what is the reason of this type of errors as client is not liable for audit bcz turnover less than 1cr and profit less than 250000 (last yr return filled u/s 44ad)- error: you have claimed income less than 8% of gross turnover. please check ur computation and liability for audit if any u/s 44AB/ 44AD(5)
Replies (6)
Turnover alone is not criteria for tax audit.

% of profit also matters .


6/8% for business

50% for profession

So for turnover based non audit cases , the minimum profits should be 6%/8%/50%
8% criteria IA applicable only in case when we opt for 44ad otherwise is u have profit less than 250000 then no audit is required as per 44AD(5)
How much is the value of gross receipts ?
66 lacs
Are you able to file ITR without Audit Report ?
Till now it's pending


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details