Tax audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 July 2012
In case of Professional total receipts does not exceed the limits of Rs. 15 lakhs but his F&O turnover exceeds the turnover of Rs.60 lakhs for F.Y.2011-12 Whteher he is liable to tax audit?
Whether consolidated P&L and Balance Sheet to prepared and audited or F&O segments to be audited?
Whether consolidated P&L and Balance Sheet to prepared and audited or F&O segments to be audited?
Amol S Joglekar
(Expert)
30 July 2012
absolute value of FNO is to be taken. If it is exceeding 60 lakh then tax audit is applicable
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