Tax audit

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rohit

rohit (Querist)
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02 September 2013 A PERSON HAS BOTH BUSINESS AND PROFESSIONAAL INCOME, WHETHER HE IS REQUIRED TAX AUDIT?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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02 September 2013 that depends whether he has income from business more then 1 Crore in FY2012-13 then under sec 44AB tax audit is applicable.

for professional income the above 1 crore is replaced by 25 lakhs.

rohit

rohit (Querist)
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03 September 2013 A PERSON HAS BUSINESS INCOME OF 10 LACS AND PROFESSIONAL INCOME OF 5O LACS WHETHER TAX AUDIT IS REQUIRED?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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03 September 2013 Yes since the prof income is more then the above limit of 25 lacs then tax audit is applicable in your case.

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