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Audit report related

29 September 2019

hi good morning

last year fy 17-18 TAX AUDIT, fy 18-19 Non tax audit

my doubt is can I file audit report (fy 18-19) or not ?

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8 Replies

Kamlesh Tolani (accountant) (563 Points)
Replied 29 September 2019

No not necessary for audit if profit is 8%

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Shabbeer Shaikh (7 Points)
Replied 29 September 2019

Okay sir Thank you
if below 8% ?

sabyasachi mukherjee (27732 Points)
Replied 29 September 2019

Tolani its wrong however... clarify to the querist.

Kamlesh Tolani (accountant) (563 Points)
Replied 29 September 2019

Ok sorry for my answer

Kapadia Pravin (17264 Points)
Replied 29 September 2019

@ Shabbeer
If FY 18-19 non-tax audit then it's okay
Don't do audit. Simply file ITR.
if proprietory then ITR3
if Firm then ITR 5
of company then ITR6

Turnover is the deciding factor for 44AB tax audit. profit percentage is not relevant.

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sabyasachi mukherjee (27732 Points)
Replied 30 September 2019

Shaver what's your turnover
DOES IT FOLLOW WITHIN THE PURVIEW OF SEC 44AD.

Shabbeer Shaikh (7 Points)
Replied 30 September 2019

Mukherjee sir
I have two doubts

1.Fy 17 -18 tax audit, fy 18-19 below tax audit means turnover 1300000
my question is Fy 18-19 audit report ?
profit is below 8 %₩

2.Fy 18-19 turnover 800000,but profit below 8%
in this case report is mandatory?

(Guest)

Originally posted by : Shabbeer Shaikh
	Mukherjee sir I have two doubts 1.Fy 17 -18 tax audit, fy 18-19 below tax audit means turnover 1300000my question is Fy 18-19 audit report ?profit is below 8 %₩2.Fy 18-19 turnover 800000,but profit below 8%in this case report is mandatory?