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Tax audit applicability 5%

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(Querist)
25 July 2022 Sir
FnO Turnover is 3 cr , FnO loss 3,00,000/= + Professional income is 14,00,000/- net profit is around 5% only 2 lakh received in cash I want to know if Tax audit is applicable due to this point. Last year Tax audit is not applicable Is Audit applicable now for FY 21-22 (AY 22-23)? Please Guide.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
25 July 2022 What is the profit from professional income?
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Rahul

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Rahul (Querist)
25 July 2022 8.97 Lakh is profit from professional income and fno loss is 2.93 so net profit is 6.04 lakh
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
25 July 2022 Tax audit not applicable...
File ITR 3 with books maintained for F&O business.
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Rahul

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Rahul (Querist)
25 July 2022 sir can u send me your email id i want send you P&L a/c for your valuable opinion or your whatsapp no
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
25 July 2022 Sorry Dear ................

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