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