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Tax audit

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propritorship
36 Points Posted on 11 August 2016
Assessee has turnover Rs. 36 lacks and Commission Income Rs.2.5lacks. Net Profit Rs. 3.7Lacks Whether Tax Audit Required?? assessee not maintain sepreate books of accounts for trading , commission
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On 11 August 2016 at 13:34 Report
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sdcase
22 Points Posted on 11 August 2016
i think not required
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On 11 August 2016 at 15:08
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propritorship
36 Points Posted on 11 August 2016

please provide a detail answer whyt not required

 

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On 11 August 2016 at 17:36
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sdcase
22 Points Posted on 12 August 2016
for tax audit, neither sales nor commission exceeds the limits.
As the assessee has a commission income, we can not apply sec 44AD here. Further though 44AA is not complied with bt d assessee is not showing his income u/s 44AD.
so audit not required
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On 12 August 2016 at 00:22
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Article Assistant and Post Gradute
644 Points Posted on 12 August 2016

In this case tax audit is not a mandatory

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On 12 August 2016 at 16:01


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