Comment on Notice under Section 139(9)? - Possible reason

gandhi commented on 17 Jul 2014, 10:38 AM

With ref to notice under section 139 (9), audit requirement is triggered because f&o trader has reported profit less than 8% of turnover. Now to rectify it, instead of getting the books audited can he simply revise the return with 8% profit on turnover.

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