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
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Tax audit
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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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