Tax Audit For Professional

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1 Points Posted on 15 August 2020
Professional Field ITR 3 And Shown Income Less Than 50%
Is He Liable To Tax Audit?
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On 15 August 2020 at 18:59 Report
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Quick Summary
Professionals filing under ITR 3 and showing a profit less than 50% of their gross receipts may be liable for a tax audit. This is specifically under Section 44ADA of the Income Tax Act. If your declared profit falls below this threshold, you will need to have your books of accounts audited.

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4510 Points Posted on 15 August 2020
Originally posted by : ch prem kumar
Professional Field ITR 3 And Shown Income Less Than 50%Is He Liable To Tax Audit?

Yes 

He is Liable to Tax Audit if show profit less than 50 % under section 44ADA

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On 15 August 2020 at 19:12
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131 Points Posted on 15 August 2020
Yes need to get his BOA audited
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On 15 August 2020 at 23:37

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