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

Mungerilal commented on 13 Sep 2014, 08:38 PM

“If your turnover is less than 1 crore and profit more than 8%, you will not need your books to be audited.”

profit more than 8% means what? 8% profit on that 1 Crore turnover which is 8lakhs,right?

Then how we pay taxex if the books not audited? (I’m novice F&O Trader Nithin Sir)

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