Since my profit is lesser than 8% of the turnover. Does the audit require?
Do I need to file the return for my smalls profits? Whether is this compulsory or optional?
I am a student. I don’t have any other source of income other than this profit for the financial year 17-18.
I seriously dont understand with all these posts about tax
Am I missing something or people are too much worried
There are people who dont pay crores of tax, whats with this unease and fear of taxes this year
I’m also thinking the samr from the first day I joined this forum… As 10 out 2 posts are related to taxation. I mean we already are paying many types of taxes while trading and will need to pay on overall income… But you see I have never paid any extra tax or anything. Like filing ITR or etc… Its actually based of very high incomes… And this is just the beginning… People are getting worried unnecessarily…
No. Because profit < 8% and turnover < 2 crores (digital)
Recommended to file ITR as it has other advantages (visa, loans, etc.).