A firm where it's turnover is 27 lacks and its net profit is 2.5 lakh...
here it is not showing itsboncome under 44ad...
normal return it is doing .
so for this yr 20.21 is it tax audit is applicable for this firm??
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Tax audit appliacbilty
Replies (3)
Quick Summary
What do you mean by normal return?
Then I will answer tax audit applicability.
Then I will answer tax audit applicability.
If the person is not opting for 44AD then he can normally file ITR 3 with no tax Audit till the turnover exceeds the limit of Rs 1 crore or 10 Crore, in your case you can file ITR 3 with no TAX AUDIT. Kindly note that You needs to show financial figures in ITR 3 under no account case filed, also you need to maintain books of accounts as you are not opting for 44AD.
Not necessarily.
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