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This query is : Open
30 June 2017
Dear Sir,
Audit has been done by the CA for an entity showing less profit than 8 % of turnover but the same is not uploaded by CA still for the financial year 2015-16. Is there any consequences?
Income tax return is processed by the income tax department and refund is also received.
Audit has been done by the CA for an entity showing less profit than 8 % of turnover but the same is not uploaded by CA still for the financial year 2015-16. Is there any consequences?
Income tax return is processed by the income tax department and refund is also received.
30 June 2017
If the return is processed already and refund is issued there is nothing more to worry. though in a few cases where audit report was uploaded but ommitted to be approved return was placed under defective.
30 June 2017
Sir,
So in this case, for the new financial year 2016-17, audit report is compulsory, in case less than 8 % profit is shown?
So in this case, for the new financial year 2016-17, audit report is compulsory, in case less than 8 % profit is shown?
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