Thakkar Hiren C (Sr Accountant ) (118 Points)
05 August 2009i am the Dealer of the Relaince web word , i am purcahse the Recharge in the Mobile 10000 i am gettig 10250 to distribute the Customer here 250 is my profit now this 10000 treat as purchase and 10250 treat as sales ? of if i made total 40 lakhs recharge purcahse for the whole year , can i liable for the audit of the firm i am not talking about the Recharge coupne i am talking about the recharge transfer to mobile
thanks in advance
Ashwin
(Executive)
(70 Points)
Replied 06 August 2009
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Dear Mr. Hiren, As soon as and when your Sales total will hit 40 lac mark you will have to fill your return under Section 44AB which is nothin but the Tax Audit. Please note in case of companies the limit is 40lacs and in case of professionals if the gross receipts are more than 10lac they have to undergo the tax audit.
Originally posted by :Thakkar Hiren C |
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| " | i am the Dealer of the Relaince web word , i am purcahse the Recharge in the Mobile 10000 i am gettig 10250 to distribute the Customer here 250 is my profit now this 10000 treat as purchase and 10250 treat as sales ? of if i made total 40 lakhs recharge purcahse for the whole year , can i liable for the audit of the firm i am not talking about the Recharge coupne i am talking about the recharge transfer to mobile thanks in advance |
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