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Tax audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 September 2014 Dear sir,

My business turnover is 2400000.IF I will opt presumptive taxation.Tax audit is compulsary ?
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Ganeshbabu K

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Ganeshbabu K (Expert)
12 September 2014 If your business is eligible to opt for presemptive taxation vide 44AD(5) OF INCOME TAX ACT
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Yes you may show atleast 8% of profit on your turnover and may file return accordingly

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