Audit report in case of 5 lacs income
This query is : Resolved
04 May 2013
1. 5 Lacs Income condition (Audit) is also applicable for Salaries Person ?
2. In the cases of Business Income Rs. 5.00 is applicable after or Before Deduction (80-C,D,G Etc.) ?
1. 5 Lacs Income condition (Audit) is also applicable for Salaries Person ?
2. In the cases of Business Income Rs. 5.00 is applicable after or Before Deduction (80-C,D,G Etc.) ?
05 May 2013
Hi,
Audit for salaries person of income Rs.5L - can you give relevant section...
Audit for salaries person of income Rs.5L - can you give relevant section...
06 May 2013
Don't get confused reading News Headlines.
It says if any person has Taxable Income Exceeding Rs.5 Lacs, he needs to file returns online.
So far as Audit Report is concerned if assessee is not earning any Business income exceeding Rs.1 Crore or Professional Income exceeding Rs.25 Lacs you need not get your accounts Audited.
Moreover now we have to file Audit Reports Online, if applicable.
It says if any person has Taxable Income Exceeding Rs.5 Lacs, he needs to file returns online.
So far as Audit Report is concerned if assessee is not earning any Business income exceeding Rs.1 Crore or Professional Income exceeding Rs.25 Lacs you need not get your accounts Audited.
Moreover now we have to file Audit Reports Online, if applicable.
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06 May 2013
Thank you sir for very nice explanation.
18 June 2013
Yes I agree with the expert
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