Tax audit
This query is : Resolved
amit kumar
(Querist)
09 May 2014
Dear Experts,
i want to knw if an assessee whoes turnover exceeds 1crore then he is liable to Tax audit but if subsequently his turnover gets reduce from 1 crore in next Financial year then also will he b liable for TAX AUDIT or not??
09 May 2014
No. If the turnover is below the prescribed limit then no tax audit required even if tax audit was applicable in the previous year.
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