HELLO FRIENDS, IF MY CLIENT IS DOING RETAIL BUSINESS BUT HE MAINTAINS BOOKS AND HE DOES NOT OPT FOR SEC 44AF
HIS SALES ARE RS 500000 CAN HE HAS TO SHOW TO SHOW NET PROFIT MORE THAN 5%
IF HE HAS SHOWN LESS THAN 5% IS AUDIT COMPULSORY?
PLS GUIDE ME.
RAJ KUMAR (FINANCE MANAGER) (1393 Points)
27 July 2010HELLO FRIENDS, IF MY CLIENT IS DOING RETAIL BUSINESS BUT HE MAINTAINS BOOKS AND HE DOES NOT OPT FOR SEC 44AF
HIS SALES ARE RS 500000 CAN HE HAS TO SHOW TO SHOW NET PROFIT MORE THAN 5%
IF HE HAS SHOWN LESS THAN 5% IS AUDIT COMPULSORY?
PLS GUIDE ME.
CA Namrata ghosh
(CA)
(55 Points)
Replied 27 July 2010
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
