24 January 2009
ihave a filed income tax return of a civil contractor showing net profit 5% for A Y 2007-08. The turnover iswas Rs1.25 cr.It is not covered by section 44 AD.As per scrutiny norms for the relevant a.y.if the n/p is above 5% and turnover is above Rs 1.00 cr,it will not be selected for scruitiny. The case filed by me fullfills the above requirements.But,it has been selected for scruitiny. What is reamedy.how can i challange this selection
24 January 2009
SIR IF YOU HAVE FILED UNDER PRESUMPTIVE BASIS PROVISIONS THEN PLS CHECK IT IS 8% & NOT 5% SO YOU ALSO MUST HAVE VIOLATED THE TAX AUDIT PROVISIONS THEREBY SO CHALLENGING ON THAT GROUNDS IS OUT OF YOUR PERVIEW. YOU WILL HAVE TO FACE THE SCRUTINY IN CASE YOU REQUIRE ANY FURTHER HELP YOU CAN CALL ME
CAclubindia
