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Whether Tax Audit Applicable

216 views 3 replies

Chirag Agarwal

16 Points Joined September 2018

I have 3 truck of Gross weight of 32 MT each.

If opted 44AE then it will be 1000 per tonne which will result in heavy profit which is actually not.

I can't file return under 44AE

Under which section should I file and whether TAX audit is applicable.??

Replies (3)

Anshul Gupta

Article clerk

131 Points Joined November 2014

If gross waight is exceeds 12000 kg that 12Tons.. It will categoried as heavy goods vehicle.
If u have only three truck can opt 44AE

P. V. Kutty

Accounts

308 Points Joined January 2018

You can file ITR3 with books of accounts maintained, with actual profits declared for assessment. No audit mandatory, if turnover doesn't exceed 1 Cr.