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Audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 August 2013 Dear Sir,
In case of a manufacturer whose total sale is Rs. 11 lacs and profit is only 75000/-.

Whether he is required to audit or not?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
31 August 2013 u need to check the gross sales or gross turnover if it exceeds rs 1 crore then tax audit u/s 44AB is applicable otherwise not.
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 September 2013 as the above case, profit is less then 8%, then audit is applicable or not?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
02 September 2013 Yes in this case audit is applicable.
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