Tax Audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2010 A persons turnover is less than 60lacs but profit is more than 60 lacs, he is sole trader, audit is required ?

TAX audit is required for an individual who is carrying business in his individual name , tunover is less than the reuqired limit but income is more than the turnover limit for audit?

srinath

srinath (Expert)
Follow

28 July 2010 if business turnover is less than 40 lacs then no tax audit

but wat income made his profit more than 60 lacs

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
Follow

28 July 2010 for tax audit only turnover will be consider not profit.

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2010 CA ravindra,
So for audit turnover is considered and not profit ? whether profits is more than 60lacs or less irrespective of that only turnover considered ?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

RADHAKRISHNAN A R

ASHOK KUMAR TEKURU

giriswar

Credible HRM

atul kumar soni

Subscribe Now

Tax Audit

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA