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Section 44ab

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06 August 2012 Section 44AB reads... Every person,—

(a) carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds [sixty lakh rupees]] in any previous year;
....

Here section states... any previous year...

If the turnover in FY 2009-10 is Rs. 75 lakhs; FY 2010-11 is Rs. 41 lakhs; FY 2011-12 Rs. 35 lakhs. Whether he is needs to be audited u/s 44AB? Let us also assume his profit is also more than 8% in FY 2011-12
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Amol S Joglekar

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Amol S Joglekar (Expert)
06 August 2012 yearwise limits are notified by the Govt. Accordingly the tax audit is carried out. for fy 12-13 limit is 1 crore
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
06 August 2012 For AY 2012-13 relevant to FY 2011-12, he is not under the tax audit.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
06 August 2012 Here any does not mean "any".
Your doubt about " any previous year"
will clarify if you will continue to read there after clause (d)
"get his accounts of such previous year...."
.
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