Question ID :
44860
082701
A proprietorship firm sales during 2024-25 is Rs 99 Lacs
Whether it is compulsory to show Net profit @8%. Last year 2023-24 FY it was under presumptive taxation sales below 1 Crore but Netprofit above 8%During 2022-23 It was being audited
Posted by
Mahesh Kumar
on
May 28, 2025
Filed Under
AUDIT
If an individual assessee availed presumptive scheme for one AY then he is required to maintained it for next five year otherwise you have to get your books of accounts audited by the Chartered Accountant.
Posted by
NIRMAL KUMAR on
Jun 13, 2025