If assessee is in to the business of Whole sale/retail of goods and has total turnover of Rs 80L with net profit of Rs 5.6L which is 7%.
Assessee is not opting 44AD and never opted before.
Now as profit is below 8% and NP is above basic exemption limit, whether assessee has to go for tax audit u/s 44AB.
Thanks
Menu
Tax Audit
Replies (1)
Yes.... Audit is applicable in this case.
Recent Topics :
- Company 3 months old, INC-20A not filed, all 3 of
- How do I choose the Best GST Lawyers in New Delhi
- Loss on sale of residential flat after indexing al
- Short Deduction
- Large mismatch between AIS Business Receipts and G
- Income tax on Australian Stipendiary Steward on 3
- INCOME TAX SECTION 92E
- Queries on Tax Invoice and GST
- Income Tax Auditor Tenure for Small Companies
- Sec 8 company sec 12ab reg
Related Topics :
CAclubindia
