One of my client has total turnover of 80 lacs in SHARE TRADING, his actual profit is 3.20 lacs (less than 8%). Is tax audit required in this case, if i dont want to declare 8% profit?
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184738 Points)
Replied 24 July 2018
Yes, but let him declare 6% to avoid it......
RAHIL
(ACCOUNTANCY)
(247 Points)
Replied 24 July 2018
Sir, I think he will agree to do tax audit, because cost of doing tax audit + accounting will be less than the amount of tax if he opts for 44AD.
Thank you sir for your quick reply. :-)
Recent Topics
- Tax slabs mentioned in budget of feb2025
- Https://www.facebook.com/nutragreenfarmscbdgummies
- Balance Sheet FORMAT AS PROP
- Tds challan -ITNS 281 validity period
- Salary Taxable Perquisite – Sale of Asset an
- ITC claim rules
- AUTOMATED FILLING NEFT / RTGS FORM EXCEL UTILITY (
- GSTR1 filing export of service-HSN summary
- Revenue or cost ?
- Selling of Fully Duty Paid Imported goods as FOC
Related Threads
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CA Deepak Gupta26 April 2025
CAclubindia
