Ravi Kumar Ray (customer sales executive) (38 Points)
31 August 2016
suraj
(Student CA Final )
(288 Points)
Replied 31 August 2016
Ravi Kumar Ray
(customer sales executive)
(38 Points)
Replied 31 August 2016
Thanks Suraj.....!!!!
It is not possible to pay penalty for my client.
Whether it is better to choose presumptive basis to save the penalty and get refund of tax???
Do u know anybody, who can do it in low fee???
suraj
(Student CA Final )
(288 Points)
Replied 31 August 2016
CA Vinit Malani
(.)
(49 Points)
Replied 02 September 2016
Tax auit will be applicable if the turnover is above 25 lakhs for professionals and if turnover is above 1cr
Tax audit will also apply if the firm has incurred losses and income from other sources is above taxable limit ie above 250000
Tax audit will also apply if profit % is below 8%
It can also file retun u/s 44AD to prevent penalty u/s 271B.
CAclubindia
