Clarification regarding tax audit applicability

This query is : Resolved

RAVI PATEL (Querist)
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18 June 2013 I want to know whether tax audit is applicable in below situation for the f.y. 2012-13??

Purchase : INR 1,05,20,400
Sales : INR 78,44,250

Even i want to know the defination of turnover as per income tax act,1961.

Ganeshbabu K

Ganeshbabu K (Expert)
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27 June 2013 not applicable as turnover not exceeds 1 crore

Please refer below o know what is turnover

http://taxguru.in/income-tax/meaning-of-turnover-or-sales-for-the-purpose-of-tax-audit.html

Thanks & regards
Ganesh babu k

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