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Tax audit relation query

deepak (PCS) (430 Points)

11 October 2019

If individual and pvt ltd sale of service business and gross receipt is 55 lac( other than professional services) and profit is 24 percentage in such case tax audit is required or not?

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7 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 11 October 2019

As per Your query audit not applicable...

Can you elaborate the what is Individual and Pvt Ltd receipt...?
both are to one person?

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CA Dhruva Kalamanji (Chartered Accountant ) (1996 Points)
Replied 11 October 2019

Hi Deepak

query is not clear. Kindly eloborate

deepak (PCS) (430 Points)
Replied 11 October 2019

Both pvt ltd and proprietor are in service provider business and profit is 24 and 25 percentage of each and gross receipt is 55 lac . So tax audit required or not?

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 11 October 2019

Originally posted by : deepak
	Both pvt ltd and proprietor are in service provider business and profit is 24 and 25 percentage of each and gross receipt is 55 lac . So tax audit required or not?