TAX AUDIT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 June 2011
WHAT , IF PURCHASE IS 80 LACS AND SALES IS 30 LACS, IS IT COVERED UNDER SEC 44AB, AND IF YES THAN WHERE IS THE PROVISION IN THE ACT,
PLEASE TREAT IT AS URGENT
WHAT , IF PURCHASE IS 80 LACS AND SALES IS 30 LACS, IS IT COVERED UNDER SEC 44AB, AND IF YES THAN WHERE IS THE PROVISION IN THE ACT,
PLEASE TREAT IT AS URGENT
25 June 2011
Since the sales turnover is less than the threshold limit, tax audit does not apply. Purchase turnover is irrelevant for determining the threshold limit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Tds on commission charges
- Applicability of GST on Salary Reimbursement Component
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- GST ITC REVERSE
- TDS on TRUST
- Renovation exp. in flat by family member
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
Featured
12 September 2026
Assistant Manager - Finance & Compliance
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
ARTICLESHIP
04 September 2026
Accounts Executive
Hema Yashwanth & Associates
Chennai
B.Com
View Details
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
CCI
Pro
CAclubindia
