Tax audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 June 2013 Dear sir

plz tell for what kind of business & turnover for which tax audit is required.is there is necessary to maintain books of account for tax audit ?

plz give me answer.

regards

21 June 2013 any trading business having turnover rs. not exceeds Rs. 100 lacs and you declare proft@ 8% then no audit required u/s 44AB

if you have declare 8% then required audit U/s 44AB.

if your turn over exceeds rs. 100 lacs
then you have to audit u/s 44AB ( profit % no matter)
if you income is or over rs. 120000/- or turnover Rs. 10.00 lcas then you have to maintain books of account specified U/s 44AA



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Querist : Anonymous

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Querist : Anonymous (Querist)
21 June 2013 not cleared point no 1 & 2

21 June 2013 yes it necessary to maintain books of account of you account are subject to tax audit.

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 June 2013 If turnover is below 1 crore.& income is 8 %. is tax audit is required ?

Regards

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 June 2013 If turnover is below 1 crore.& income is 8 %. is tax audit is required ?

Regards

21 June 2013 Not required in that case.

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 June 2013 If turn over is below 1 crore and income is below the 8 % of turnover.then ITR 4 sugam will be filed after tax audit. Am I right ?

21 June 2013 no if profit in aslo belo 8% , then you need to file ITR-4 with tax audit report


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