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sec 44ab

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(Querist)
24 February 2011 my prob is that if a person has 38 lacs turnover from a proprietorship business and also he is having calary of 10 lacs from a company in which he is director in the previous year 2009-10, does it come under tax audit. kindly explain....
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
24 February 2011 No need of tax audit since the turnover from "business" is below the threshold limit of section 44AB of the IT Act,1961.
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