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?
Sandeep Dharar
(Expert)
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.
CA. Amit G. Chandani
(Expert)
10 May 2014
It is according to turnover in previous year. Its not necessary for every year.
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