Poonawalla fincorp
Poonawalla fincorp

IT returns filing

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(Querist)
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?
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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.

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