TMI BlogTAX- AUDIT FOR FY 18-19X X X X Extracts X X X X X X X X Extracts X X X X ..... In FY 16-17 we filed Income Tax Return u/s 44AD , In FY 17-18 turnover was 3cr so we Filed Tax Audit. Now in FY 18-19 our Turnover is 1.75 CR, We are liable to Tax Audit.? or We can File Income Tax Return U/s 44AD .? Help - Reply By KASTURI SETHI - The Reply = Section 44 AD talks of turnover pertaining to the previous financial year. For my knowledge sake, will you please inform me why h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ave you doubt ? I am not expert in Income Tax Act . I am asking with an intent to enrich my knowledge in this field. Thanks. - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = You have to file income tax return. There is no exemption for filing income tax return. Since your turnover is more than ₹ 1 crore tax audit is to be done; if you are professional tax audit is required if ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the same exceeds ₹ 50 lakhs. - Reply By KASTURI SETHI - The Reply = Sir, Thanks a lot for your reply. - Reply By RAHUL GAIKWAD - The Reply = My question is that, Can I file income tax return under 44ad without tax audit because my turnover is 1.75 cr.? 44ad limit is 2cr - Reply By Ramesh Kothari - The Reply = Obvious no need to file when section 44AD it self your answer - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AX- AUDIT FOR FY 18-19 - Query Started By: - RAHUL GAIKWAD Dated:- 3-8-2019 Income Tax - Got 5 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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