TAX AUDIT APPICABILITY

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... TAX AUDIT APPICABILITY
Query (Issue) Started By: - THYAGARAJAN KALYANASUNDARAM Dated:- 2-1-2021 Last Reply Date:- 3-3-2021 Income Tax
Got 1 Reply
Income Tax
Dear Professionals, Please gu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ide me if Tax audit is applicable in the below case: Nature of the Company - Business (traders) and Turnover is 79lac during the year 2019-20. They are eligible assessee u/s/ 44AD. Upto the FY 2018-1 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 9, the assessee was covered under tax audit and it has been duly filed. However, during 2019-20, since the turnover is less than 2cr the assessee can avail 44AD but the assessee wants to show less tha .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n 8% profit. Is tax audit applicable if less than 8% profit is declared? (6% profit declaration is not applicable to this assessee) Thank you in advance Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... : In my view NO
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X