Dear All,
person is having turnover of 2.5 cr and 100% receipt is other than cash..
He is showing profit of less than 8%.
Do tax audit applicable for him for FY 2020-21
Himanshu Agarwal (Proprietor) (186 Points)
24 March 2021
Himanshu Agarwal
(Proprietor)
(186 Points)
Replied 24 March 2021
Kamal Verma
(Financial advisor)
(579 Points)
Replied 24 March 2021
If profit earned is equal to or greater than 6% and all the receipt are through bank or digitally up to turnover of Rs. 2 crore. You can file return under section 44AD. otherwise tax audit will be applicable if profit is less than 6%.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 March 2021
Zeeshan Haris
(74 Points)
Replied 30 August 2021
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
