Tax audit
This query is : Resolved
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.
09 December 2013
Tax Audit not required since the turnover is less than one crore.
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