Rakesh Joshi
(CA Final)
(1272 Points)
Replied 24 October 2018
Hitesh
(Student)
(3549 Points)
Replied 24 October 2018
RAJA P M
("Do the Right Thing...!!!")
(128004 Points)
Replied 24 October 2018
| Originally posted by : jac | ||
 |
is audit compulsory in my case u/s 44 AD for financial year 2017-18, if(1) my taxable income (8% of turnover) is rs. 200000 ?(2) my taxable income is (8% of turnover) is rs 400000 ? |  |
Your query is not cleared
Rakesh Joshi
(CA Final)
(1272 Points)
Replied 24 October 2018
| Originally posted by : RAJA P M | ||
|
Originally posted by : jac is audit compulsory in my case u/s 44 AD for financial year 2017-18, if(1) my taxable income (8% of turnover) is rs. 200000 ?(2) my taxable income is (8% of turnover) is rs 400000 ? Your query is not cleared |
|
Yes the query is not clear.
RAJA P M
("Do the Right Thing...!!!")
(128004 Points)
Replied 24 October 2018
| Originally posted by : Hitesh | ||
|
No audit is not applicable if your declaring 8/6 percentage of turnover. However if income declared is below these percentage then audit is mandatory | |
Can You explain "How to You give this answer...???".
Bcoz, I'll improve myself...!!!
Hitesh
(Student)
(3549 Points)
Replied 24 October 2018
RAJA P M
("Do the Right Thing...!!!")
(128004 Points)
Replied 24 October 2018
| Originally posted by : Hitesh | ||
|
Simple Raja sir read provisions of sec 44AD and ull be able to answer. Hope this helps | |
Okay dear... Thanks for the respose and "THE CORRECT ANSWER WITH SECTION"
Querist also satisfy this anwer if his total income Rs. xxxxxxxx
RAJA P M
("Do the Right Thing...!!!")
(128004 Points)
Replied 24 October 2018
| Originally posted by : Hitesh | ||
|
Simple Raja sir read provisions of sec 44AD and ull be able to answer. Hope this helps | |
Querist also referred the section. So, No more risky for Your reference...
But., I asked "How to You give the above said answer....?"
rahul
(a)
(1620 Points)
Replied 24 October 2018
ANIL KUMAR KHETAN
(PROPRIETOR)
(524 Points)
Replied 25 October 2018
CA Mohammed Khalandar
(Practicing Chartered Accountant)
(203 Points)
Replied 25 October 2018
Dear Sir,
Tax Audit is not applicable in both the cases as the turnover is less than 2 Crores.
First Scenario : Turnover will be 25 Lakhs.
Second Scenario : Turnover will be 50 Lakhs.
Thanks
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
