i have a retail shop(sole proprietor) having a turnover of 65 lakhs around. previously when the limit for audit for rs 60 lakhs i was filling return and gets the accounts audited and mainting books of accounts.
now the limit is rs 1 cr is there any need to 1.file return 2.maintain books 3.gets accounts audited
as VAT is not applicabke for us and my income do NOT EXCEED BASIC EXEMTION LIMIT.
24 June 2014
there is no conflict...rule is simple...if the total income doesnt exceed Rs 2 lakhs, return is not required to be filed as per section 139.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
24 June 2014
ya but how come tushar is asking to file return?