Tax Audit
This query is : Resolved
04 July 2009
Hello,
My query is regarding applicability of tax audit.
I have a client who has two propritorship
one has a turnover above 40lakhs
and other has below 40 lakhs.
Is both the concern is liable to tax audit?
or individual is treated as a whole while deciding tax audit?
Thanking You.
Have a nice day.
My query is regarding applicability of tax audit.
I have a client who has two propritorship
one has a turnover above 40lakhs
and other has below 40 lakhs.
Is both the concern is liable to tax audit?
or individual is treated as a whole while deciding tax audit?
Thanking You.
Have a nice day.
04 July 2009
Both the concerns are liable to tax audit. Refer pages 8 to 11 of 'Issues on Tax audit' an ICAI publication (june 2000 edition)
04 July 2009
agree with above experts, both the concerns of the individual are liable to tax audit as the Gross reciepts exceeds Rs 40 lacs
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