Tax audit

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Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2012 if person has professional receipts more than 15 lakhs and business sales more than 60 lakhs then whether he is liable to TAX AUDT both income?

CA Anand

CA Anand (Expert)
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31 December 2012 "every person carrying on business is required to get his accounts audited if the total sales, turnover or gross receipts in the previous year exceed sixty lakh rupees. Similarly, a person carrying on a profession is required to get his accounts audited if the total sales, turnover or gross receipts in the previous year exceed fifteen lakh rupees"
On the above discussion it better to go for audit on both the income

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