banner_ad

tax audit

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 June 2010 Dear all,
A firm which was under TAX Audit for Previous year(TO > 40L)but current year TO < 40L..
whether The firm falls under Tax Audit for current year ?

thanking you,
Profile Image

CA. BIJENDER KR. BANSAL

Profile Image

CA. BIJENDER KR. BANSAL (Expert)
14 June 2010 Yes, Firm falls under the Tax Audit for current year, as per section 44 AB, if turnover exceeds rs.40Lacs in any previous year. Hence firm is liable for tax audit.
Profile Image

Mahesh Babu

Profile Image

Mahesh Babu (Expert)
14 June 2010 I Disagree with Mr. Bansal.
although
Section 44Ab starts with every person- ....turnover exceeds... in any previous year;....
get his accounts of SUCH PREVIOUS YEAR AUDITED....
the use of the words "such previous year" makes it compulsory for an assessee to get his books audited for the previous year in which his TO exceeds Rs. 40L.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details