Dear friends
my client turnover 17800000/- and book profile 767000 it's tax audit or non tax audit and due date ?
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Auditing due date
Replies (3)
TO is more than 1 crore. So it is come under audit case. Due date for filing returns is extended to 31.10.2019
Your client definitely falls under tax audit 44AB.
Extemded due date of filing is 31-10-2019 Si hurry up to avoid penalty.
Extemded due date of filing is 31-10-2019 Si hurry up to avoid penalty.
1. Tax audit u/s 44AB is required when Gross receipts or T.O exceeds Rs. 1 crore during the year. This section has nothing to do with loss or profit in that case.
2. In your case since the T.O exceeds Rs. 1 crore tax audit is mandatory and the due date for filing the ROI is 31.10.2019.
3. There are options such as sec 44AD (in case of a business) and sec 44ADA (in case of the profession) showing your clients profit under presumptive taxation.
Please correct me if the above solution has an alternative view.
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