Audit u/s 44ad
This query is : Resolved
16 March 2014
My business is trading in food products.. My Gross profit margin is 6%.. My turnover for the FY 2012-13 is Rs.59 lakhs.. My approximate net profit is 2.5 lakhs.. should my books of accounts audited by CA u/s 44AD?.. please help me..
16 March 2014
As your Gross Receipts doesnot exceed RS 1 crore,you can opt for PTS u/s 44ad,no audit is required.Presumptive income-8% on GR,however if you claim that your income as calculated as per normal provisions is lower than Presumptive income,Audit BY CA required
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
