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Tax Audit

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(Querist)
07 June 2011 If iam an individual carrying on business and i don't have any income except interest income. Now iam liable for tax audit or not.
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CA. Shushil Kumar

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CA. Shushil Kumar (Expert)
07 June 2011 If your business is of financing/money lending, then in a case your interest income exceeds the threshold limit (Presently 60 Lakhs) then you are subject to Tax Audit.

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