Section 44ab
This query is : Resolved
07 August 2013
Dear Sir, I would like to know that for the AY 13-14 , If the gross turnover does not exceeds Rs.1 cr then Is it required to get tax audited ?? is there any provision that section 44AB once applicable will be applicable forever ...? n yeah they were subject to tax audit preceeding the PY .....
07 August 2013
If gross turnover or gross receipts does n ot exceed rs 1 cr then no tax audit is applicable.
tax audit whether applicable or not depends on rel fin years gross receipts or gross turnover....there is no such hard and fast rule that once tax audit is applicable it is applicable for every year.
tax audit whether applicable or not depends on rel fin years gross receipts or gross turnover....there is no such hard and fast rule that once tax audit is applicable it is applicable for every year.
Ganeshbabu K
(Expert)
07 August 2013
There is no such provisions exists..
if gross turnover not exceeded 1 crore tax audit will not applicable
if gross turnover not exceeded 1 crore tax audit will not applicable
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