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

Nithin Kamath commented on 30 May 2014, 01:15 PM

Rajesh, Check this post.

This is because if your turnover is less than 1 crore and if profit less than 8% of your turnover, you need to get the books audited by a CA. It is a weird regulation and we have put a petition to the IT department saying it is illogical, but until there is an amendment we will have to adhere.

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