17 June 2024
HI, MY CLIENT IS CARRING A BUSINESS AND WHOSE TURNOVER LESS THAN 1 CRORE IN P.Y 2023-24 ALSO PROFIT % IS LESS THAN 8%/6% WHETHER HE HAS TO DO TAX AUDIT IN P.Y 2023-24 OR SHALL HE FILE NORMAL RETURN IN JULY WITHOUT TAX AUDIT IF TAX AUDIT THEN APPLY THEN UNDER WHICH SECTION HE HES TO DO TAX AUDIT
17 June 2024
suppose My client has carrying business and whose turnover is 2.75crore more than 2 crore but less than 3 crore and whose cash receipt does not excess 5% if the total receipt but profit % is less than 8%/6% shall he need to file ITR under tax audit or normal without Tax audit?
17 June 2024
If both cash receipts & cash expenses are less than 5% of corresponding total receipts as well as total expenses; then he can file ITR under normal assessment, without tax audit.
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