Tax audit implication

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Ameya (Querist)
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18 December 2015 1.An individual conducts one profession and one business.Turnover from profession is 27 lakhs and turnover from business is 72 lakhs for FY 14-15.Sir,what will be tax audit implications on the above?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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18 December 2015 audit will be applicable straight away based on professional receipts.

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Ankur Singhal

Ankur Singhal (Expert)
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19 December 2015 Dear Ameya
Audit of Profession as well as Business since professional Receipt exceeds limit i.e Rs.25lakhs.

Your query is same as an example notified by tax guru in their newsletter.
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