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Please Help: Return of Income for Self Employed

Posted Date : 13-Apr-2015 , 12:22:44 pm | Posted By: CASANSAAR

Category : Income Tax | Answers : 0| Comments : 1| Hits: 197

One of my friend has Self Business (Editing in photos.is it under fall in Profession or business.His annual income is approx.12 Lac,does he need to furnish audit report or not.Also confirm to me one thing if audit is not require then CA sign is compulsory on Balance sheet.

Comments
Posted By : JUGAL PATEL 18-Apr-2015, 05:51:48
The business will fall under Professional if he is doing that in professional manner. Thus he is not liable for Tax audit as limit is Rs 2500000/-Also there is no need to sign balance sheet by CA
 

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