Tax audit
This query is : Resolved
10 May 2014
once the turnover of indivdual exceeds 1 cr he is subject to tax audit. wat if in d next financial year turnover is less den 1 cr??
is he subject to tax audit?
10 May 2014
No for that year he is not liable for Tax audit.
10 May 2014
No. If the turnover is below the prescribed limit(Rs 1 Crore) in the next year then tax audit is not required.
10 May 2014
It is according to turnover in previous year. Its not necessary for every year.
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