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Income tax audit applicability

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15 September 2015 1)Mr. X has a turnover if Rs. 45 lacs in Financial year 14-15. 2) Has filed itr 4 on 31st July 2015 3) profit shown is below 8% 4) Profit n loss and Balance Sheet is shown in income tax return. Whether Tax audit is mandatory? Please guide. Thank you Regards, Devendra Kulkarni
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
16 September 2015 Tax audit is mandatory if total income shown in the return is above basic exemption limit.
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