CBDT passes order u/s 119 of the Income Tax Act, 1961 in F No. 370153/39/2020-TPL dt 11th January 2021, disposing off the representations for extension of due date for filing of Audit Report u/s 44AB, in compliance with the order of hon'ble Gujarat High Court dt 8th January 2021. Read the official order below: F.NO. 370153/39/2020-TPL GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF DIRECT TAXES) (TAX POLICY AND LEGISLATION DIVISION) ..
TAX AUDIT FOR PROPRIETORY CONCERN TRADER HAVING SALES OF 1.5 CR, NEVER OPTED FOR PRESUMPTIVE IN PAST NO CASH TRANSACTIONS PROFIT 7% OF TURNOVER. TAX AUDIT APPLICABLE FOR ASST.2021? I FEEL NO, BECAUSE PROFIT IS MORE THAN 6%. CORRECT?..