From FY 2010-11 onwards exceeds my turnover exceeds 1cr and I am under going through tax audit.
But in FY 2016_17 my turnover is 1.5cr am I opt presumptive basis u/s 44 ad?
And what is the benefit for me if, I opt presumptive basis method.
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tax audit applicability
Replies (3)
1. Disadvantage...... Date of return filing u/s. 139(1) over....... now only u/s. 139(4) possible...
2. Advantage...... no need of maintaining books of account.... no tax audit,..... even if selected for scrutiny... it would be very limited,........ No TDS liability for FY 2017-18............ Just 6/8 % profits...
Yes. I agreed to Our Great Mr Dhirajlal Rambhia Sir....
@ PRATHYUSHA.,
In case you can file U/s 44AD. Your liabilities is very huge...!
In case you can file U/s 44AD. Your liabilities is very huge...!
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