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Tax audit

Tax queries 244 views 3 replies

One of my client's turnover for the year ended 31-03-2017 comes to Rs. 1,26,32,400/-.  whether the accounts are get to audited. If so under what section ( either us/ 44 AB or 44 Ad) .  Kindly clarify

Replies (3)

For Individual/HUF/partnership firm having  trading business, no tax audit mandatory under presumptive scheme as per section 44AD (profit declared should be at least 8%)

Otherwise tax audit u/s. 44AB would be applicable.

Sir the NET PROFIT is more than 10% of the Turnover.  While uploading the ITR ( via Computax software)  it shows a error message - It comes under TAX AUDIT and request to upload the tax audit report.  Kindly clarify. 

select......  ITR 4 if no capital gains......


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