10 September 2009
Is Audited IT returns filing required for a propreitor concern having turnover below 15 lakhs? Can he file directly with neccessary papers without auditors certification?
Guest
Guest
(Expert)
10 September 2009
no audit is required if turnover doesn't exceed 40 lacs, or gross receipts from profession doesn't increse 10 lacs. so a propritor concern may file its IT return with out getting audited, if business is not a profession for which the threshold limit is 10 lacs.