If the Turnover for FY 2016-17 is 1.5 Crore and Total Income is declared as 2.00 Lakhs then do I need to do Tax audit for FY 2016-17 or can I avail any exemption u/s 44 AD(5)?
25 May 2016
As the income declared is 2 lacs below basic exemption limit no tax audit applicable u/s 44AD(5). Mr. Rupesh Jain for FY 2016-17 turnover limit increased to 2 crore.
25 May 2016
What will be the ITR (4/4S) to be filed for this case and will there be any chance of scrutiny ? Do the assessee need to maintain books of accounts. Will there be any conflict with any other sections?
29 June 2016
As per the new clarification given by CBDT on threshold limit for Tax Audit, can I claim the non applicability of Tax audit as per 44AD(5)?
18 January 2019
Can you give me any caselaws for non applicability of Tax audit, if my turnover is 80 lacs and profit is Rs.240,000 for assessment year 2018-2019?