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

Nishant commented on 28 Jun 2016, 11:37 PM

Hi Nitin,

Please clarify for the below point and I think you have to include this point in the turnover chapter for better clarification –

If turnover is greater than 1 crore, but income is less than the taxable limit of Rs 250,000.

1. Does it requires an audit ? If yes, can we escape filing ITR as the income is less than taxable limit (just to avoid the CA charges) ?
2. The same case above , if income is 400,000 and if we reduce it to less than taxable limit by shwing 80c deductions, does it becomes the point no 1. where we do not need to file the ITR ?

I know i am asking the same question but i am still not clear that’s why asking it again. Please don’t get annoyed.

Thanks & Regards

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