Comment on Notice under Section 139(9)? - Possible reason
commented on
27 Sep 2014, 10:27 AM
so you mean for a trader having more sources of income is advantageous as income from other sources can take the profit to an figure which is more than 8% of the turnover.
now suppose my turnover is 10 lac and loss is 30000 (intraday)
from some other activity i earn 3 lac
so my net turnover still remains 10 Lac and my profit becomes 2 lac 70 thousand
which is more than 8% of 10 lac, so no audit