Comment on Taxation Simplified
commented on
02 Jul 2013, 08:57 AM
It is best to consult a CA for this, especially also because you will need your books to be audited by a CA and this can’t be done online. Read this on why: http://www.zerodha.com/z-connect/blog/view/notice-under-section-139-9-possible-reason
Since you have made a loss and hence your profit would be less than 8% of your turnover. In such a case, the books has to be audited by a CA. There were notices received this year for people who hadn’t got their books audited last assessment year.
Cheers..