Income tax audit

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This discussion clarifies the rules around income tax audits. It questions whether an audit is required every year after the first one, or only in years where the prescribed turnover limit is exceeded. The user seeks to understand the precise conditions for tax audit applicability, particularly for professionals with gross receipts over fifty lakh rupees.

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(Querist)
22 April 2020 Income tax audit once filed then every year tax audit applicable or tax audit applicable only which year exceeds the prescribed turnover limit. Please suggest. Because lots of misrepresentation on the words eg. Any person pursuing a profession and whose gross profits exceed fifty lakh rupees in any previous year. The last word Any previous year is mislead..
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
22 April 2020 Tax audit applicable only on.which year turnover exceeds the prescribed turnover limit.
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prasanth

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prasanth (Querist)
28 May 2020 Thak u Seetharaman Sir. Thaks alot
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 May 2020 Welcome..............
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