Applicability of tax audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2013 PY the TO was 68lacs and was subject to tax audit. CY the TO is 80 lacs. is the Tax audit applicable bcas PY was tax audit and CY also it must be subject to tax audit ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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28 July 2013 There is no stipulation that CY accounts should be audited if PY account's is covered u/s 44AB.

Now, you have to look into the provisions of section 44AD to determine whether CY account's is to be audited or not.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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30 July 2013 if you are having business then no tax audit is applicable to you in this year u/s 44AB.

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