An Individual has a business turnover of rs 99,00,000 and income is 5 percent on turnover.He maintains his books of accounts.Now Is he liable to tax audit?
Dwaipayan Paul (Ca final) (1767 Points)
26 April 2018An Individual has a business turnover of rs 99,00,000 and income is 5 percent on turnover.He maintains his books of accounts.Now Is he liable to tax audit?
Nikhil Sharma
(Government Service)
(539 Points)
Replied 26 April 2018
If he has opted for section 44AD, then yes he has to get the tax audit done as per clause D of section 44AB.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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