Tax audit for fy 2019-20
This query is : Resolved
16 January 2021
The Turnover is Rs 1.40 Crores and 95% of the transactions are done through bank. The profit percentage declared is 4.22%. ( They have not opted for 44AD section ) Whether 3cb-3cd Tax audit is applicable for fy 2019-20
16 January 2021
Profit declared less than 6% tax audit applicable.
17 January 2021
NOT REQUIRED IF YOU DECLARE PROFIT MORE THAN 6% ON SALES THROUGH BANK AND 8% ON REMAINING TRANSACTION.
IF YOU WANT TO DECLARE PROFIT AT 4.22% THEN SECTION 44AB INVOKED AND YOU WILL BE LIABLE TO GET YOUR BOOKS OF ACCOUNT AUDITED
IF YOU WANT TO DECLARE PROFIT AT 4.22% THEN SECTION 44AB INVOKED AND YOU WILL BE LIABLE TO GET YOUR BOOKS OF ACCOUNT AUDITED
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