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Tax audit

Tax queries 428 views 4 replies
Income from share trading under head PGBP, turnover 65 crore, profit lower than 8%.
whether liable to tax audit?
Replies (4)

Yes. Turnover more than 1 Cr.

Yes, you are liable for tax audit as per provisons of section 44AB

Supplementing Mr Dhirajlal's reply, I suggest you to go through guidance note of ICAI in determining the TURNOVER. Based on that definition, take a decision of deemed profit or Tax audit

YES AGREE WITH ABOVE ALL FREINDS BUT I THINKS DEMAND PROFIT IS NOT RIGHT OPTION FOR AVOID TO 44AB YOU ARE COMPULSORY TO LIABLE 44AB BECAUSE YOUR T.O. ABOVE THE LIMIT OF 44AB GOOD LUCK!


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