assessee has sales 70lakhs loss in business is 2lakh and he has interest from bank 5.65 lakh
my question is whether Tax audit is applicable
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Tax audit applicability -
Replies (3)
Quick Summary
Yes, provided he had opted out from presumptive assessment in any previous assessment year/s.
Thanks sir
in case if his interest income is 1 lakh
in case if his interest income is 1 lakh
If total income is below BEL, in that case sec, 44AD(4) of IT act will not be applicable.
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