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Tax audit

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09 December 2013 My Uncle had generated a turnover of Rs 50 lacs during Financial Year 2012-13. His net profit including interest on business bank account and fixed deposit amounts to Rs 450000 (interest income Rs. 200000). Is it compulsory for him to go for Tax Audit.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
09 December 2013 Tax Audit not required since the turnover is less than one crore.
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