Dear sir,
My client total turnover is 1core 80 lac & he want to file his return with presumpted income.
and if he want to audit for next year
can applicable for next year audit.
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Presumpted income
Replies (1)
If You have a Business income Which is eligible for Presumptive Taxation u/s 44AD, than you can file return u/s 44AD (with profit not less than 6%/8% as the case may be) if your Turnover is below 2 Crore without any tax audit.
But in next year, if your turnover cross the limit of 2 crore than you are required to do Tax audit u/s 44AB for that Year.
But in next year, if your turnover cross the limit of 2 crore than you are required to do Tax audit u/s 44AB for that Year.
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