Is Tax Audit compulsory if the business profit exceeds 8% of the total turnover/gross receipt provided that the turnover is less than Rs. 60 lacs?
Menu
Section 44AD
Replies (5)
if profit is more tha 8% and turnover is less than 60 lakh than no audit is compulsory
Agree with the above
But if business profit is less than 8% and even though turnover is less than Rs. 60 lacs then whether tax audit is compulsory
| Originally posted by : Hitesh Agarwal | ||
 |
But if business profit is less than 8% and even though turnover is less than Rs. 60 lacs then whether tax audit is compulsory |
 |
YES IN THIS CASE AUDIT IS COMPULSORY
| Originally posted by : future ca | ||
|
if profit is more tha 8% and turnover is less than 60 lakh than no audit is compulsory |
|
Rightly says
Recent Topics :
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
Related Topics :
CAclubindia
