Audit applicability
This query is : Resolved
30 September 2013
Does an Individual having Finance Business,where receipt does not exceeds 1 crore is he liable for Tax Audit?????
CA Pallav Singhania
(Expert)
30 September 2013
A Person carrying on business is required to get his books of account compulsorily audited u/s 44AB If the total sales, turnover or gross receipt in business for the previous year relevant to assessment year exceed or exceeds Rs. 1 Crore...
In your case its below 1 crore, No tax Audit...
In your case its below 1 crore, No tax Audit...
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