To be liable to tax audit your gross receipts from.business should be more than specified limit. In your case, the gross receipts sales needs to be checked.
2. Yes you need to submit hard copy
Question on GST and Incometax
Hi, I have 2 questions. 1> If Income(share ) from partnership firm is 1 cr and income from fixed deposit interest is 1 cr income from prop. business is 10 Lakh That individual should get his income tax account audited ? 2> GST refund application..I have submitted everything online ...but only 1 GST officer insisting to submit all hard copy to save his time ... if I don't entertain his request ..can he take any action against me ? Thank you Thank you
Asked 4 years ago in Income Tax
What is the turnover of proprietorship business?
It's just a marketing thing that everything is online.
In practical life one needs to provide everything offline and produce documents in most cases to get refund or else he will reject application.
I can assist you with refund thing depending on the application and other details.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you
1. No, audit will not be mandatory for the individual.
2. GST officer cannot take any action against you.
1. In answer to your first question Yes, in this case you need to Have your book audit.
2 As per GST Law, Officer has the right to inspect documents, generally it is done post issue of certificate. At most he can cancel your request.
1. You are not liable for Tax Audit.
2. GST Officer can not take any action but it is advisable to submit hard copy if he insist.
1.Share of profit from partnership exempted u/s 10 Fixed deposit interest charged under other sources so if turnover under proprietorship is not >1 cr you can opt 44ad or if not show profit >= 8% then audit mandatory
2 In GST everything online no need to submit in hard copy if Tax officer ask then request him to send either email or post he can not take any action but practically if ok then provide exact hard copy of the documents which already submitted online
Hello,
1. Depends upon the turnover from the business.
2. Advisable to submit the documents. The refund application might not be processed if you don't submit the documents.
I hope this answer satisfies your requirements.
Regards,
CA Hunny Badlani
Hi
1. Tax audit shall depend upon turnover of your proprietorship business.
2. All the documents are required to be filed online. Legally speaking, there is no requirement to submit manual documents. Practically, you should submit documents manually for early processing of the application.
Dear Sir,
Hope you are doing well !!
1. Tax audit is depend on your business turnover.
2.No, you can't take any action against you.
He may be requested the same only for expedite the process.
Hi
1. The criteria for tax audit is turnover.
2. No
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