What will be the Status of MSME under Income tax. I mean to say will it be a company or proprietorship. Which form of income tax return will be applicable for MSME. Is Tax audit will be required.
Can MSME file return on non accounting basis too?
Ruchi Agrawal (law) (129 Points)
08 October 2011What will be the Status of MSME under Income tax. I mean to say will it be a company or proprietorship. Which form of income tax return will be applicable for MSME. Is Tax audit will be required.
Can MSME file return on non accounting basis too?
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 09 October 2011
MSME is the size of enterprise, not the constitution
constitution can be proprietor/ firm/company
no such specific relaxation under incometax
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