Tax audit
This query is : Resolved
30 October 2013
Hi, One of my client deposited Rs. 1 crore in his saving bank account. And his case is selected under scrutiny, now the AO want his account to be audited to show the details of Rs 1 crore. My question is,that his business income/ turnover is less than the limit under sec 44AA and 44AD. So is it compulsory to do Audit. Provide details with relevant case laws.
Thanks in Advance
Thanks in Advance
30 October 2013
plz mentioned the AY
30 October 2013
see when Rs 1 cr is deposited in the bank account then unless you are able to prove that the said amount doesnt constitute your turnover the AO will ask for the audit. I presume that the query is for earlier AS as the scrutiny for current year has barely started.
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