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Eligible for Tax Audit Or Not

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(Querist)
17 August 2009 Respected all,

i found that in the P.Y. 08-09 my company income is around 39 lakhs ..........but since 2005 its income is more than 40 lakhs hence tax audit is done ........I want to know this year what is to be done..........whether tax audit should be carried out or not
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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
17 August 2009 Tax Audit is based on turnover or Gross receipt, not on Income. so if your turnover is 39 lakhs then 44ab Audit is not required
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