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RE:Audit Qurey

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 February 2010 Dear All,

I earn income from Professional Fees, LIC Commission and Brokerage from Sharebroker. My turnover of the year is Rs. 12,00,00/- and above am i liable to make Tax audit. please help.......
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CA Chitresh Gupta

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CA Chitresh Gupta (Expert)
17 February 2010 Yes, Tax audit is required if receipts exceeds Rs 10 lacs in a FY.

Regards
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Nazir

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Nazir (Expert)
17 February 2010 also you have crossed service tax threshole limit, going forward charge service tax on your professional fees, and YES you have to do tax audit..
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