Tax audit u/s.44ab or 44ad

Hello members ,

I have a question . You see I have a client in Kolkata who has this small weekly periodical magazine and

the Turnover/Gross Receipts is about 26Lakhs .Its a Sole Propreitor Firm and the Proprietor is a Senior Citizen .

She has always shown a Profit over 8% . There is TDS every year against the payments made by Advertisors

in this magazine . She gets a refund . Should we get this accounts audited .If yes under what section and where

in the Income Tax Act this is said .

Your prompt answer will be appreciated truly .

Thank you .

 

Replies (17)
No, there is no need to get the account audited.
there is no requirement to get the accounts audited under income tax act. although the assessee can get its account audited on its own.

Dear Mr.

You can show profit over 8%, So there is not required for tax audited you can file ITR 4s.

Thanks

Ramanuj

 


 

Thanks a lot

I believe the new Tax audit form which needs to be filed online is still not

available on the website . This is a cause of concern . Does anybody have any news as

to when this would be available .Any link /news would be of great help .

Regards

In a recent interactive session with the members of Bangalore chapter, the CPC hinted that the schema is under testing phases, they had a deadline to release it by Independence day, but however due to some more suggestions / inputs received from various stakeholders, the same has got deferred. Therefore, it is most likely to release by next week. 

Dear Members ,

Any updates on the online 3cb or 3 cd new form on the website.

Regards

 

Dear Members ,
Any updates on the online 3cb or 3 cd new form on the website.
There is a lot of tension with this
Time is running out and the last date is 30th September 2014
Regards

 
 
 
 
java uitility of 3cd and others for AY 14-15 has been uploaded on efiling website... you can download them.

No that is the Old Form .

Has the new form been uploaded ??

no... still old form available...
@ niladri.... new form is now available on efiling website.

Yes , I checked and date of filing is also extended till 30/11/2014

Hi,

 Service tax liabilities for by 31/03/2014 is paid as on or before submition of audit report for the A.Y.14-15 can be consider as an expenses for the financial year 13-14 or not.

Please reply

 

Regards

Rashmi  

@ rashmi... s.tax needs to be paid before filing of return and not before submission of tax audit report.

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