Income tax

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2017 Last year one of my client(individual assessee) had turnover of Rs.1.25.00 cr but since the profit was less than 8% hence audit was conducted(due to section 44AD) Now this year he has paid job work to some party of Rs.180000/-(Turnover is still less than 2 Cr) Please guide me in this regard Thanks

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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27 May 2017 If turnover is not more than 2 lc return can be filed u/s 44AD.

Expert : Anonymous

Expert : Anonymous (Expert)

27 May 2017 you can opt u/s 44AD as turnover is below 2 crore

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Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2017 F.Y.2016-17 turnover of Rs.1.25.00 cr but since the profit was less than 8% hence audit was conducted
New year F.Y-2017-18 tds liability for job works