Tax audit
This query is : Resolved
14 July 2018
Hello Freinds...
i have dought on....
where i have bussiness income of Rs. 90 lakh . and my net profit is 4 lakh. whether i require to get tax audit ( as im showing less than 8% where as. Im not opting 44AD)
in short..!!
in case im not opting for 44AD and my income is Less than 8% and profit is more than basic exemption limit
do i required to get Tax audit....
or im exempt from tax audit as turnover is less than 1 crore and im not opting for 44AD
i have dought on....
where i have bussiness income of Rs. 90 lakh . and my net profit is 4 lakh. whether i require to get tax audit ( as im showing less than 8% where as. Im not opting 44AD)
in short..!!
in case im not opting for 44AD and my income is Less than 8% and profit is more than basic exemption limit
do i required to get Tax audit....
or im exempt from tax audit as turnover is less than 1 crore and im not opting for 44AD
14 July 2018
As you are declaring less than 8% profit and profit is more than basic exemption limit tax audit applicable to you.
14 July 2018
but sir im not not opting for 44AD,
14 July 2018
If you opt 44AD tax audit not applicable else tax audit applicable.
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