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Section 44AB of Income Tax Act, 1961

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 January 2010 Suppose the Assessee's turnover exceeds Rs. 40 Lacs in the f.y 2007-2008 and get his books of accounts audited u/s 44AB of Income Tax Act. Should he get his books of accounts audited for the f.y 2008-2009 even if his turnover doesnot exceed Rs. 40 Lacs?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
25 January 2010 No. turnover needs to be checked every year for determining applicability of tax audit u/s 44AB

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