Tax audit
This query is : Resolved
Kumar Nayudu
(Querist)
02 May 2012
sir my name is kumar.my doubt is what is tax audit?will you give brief explain about tax audit?
Ram Ji Srivastava
(Expert)
02 May 2012
Dear Mr kumara,
As per IT act requirement Tax Audit has been conducted/done for individuel if his gross receipt exceed Rs 25 Lacs during the FY and for Companies if there turnover exceed Rs 1 Crore during the FY covered in TAX AUDIT (this is for FY 2012-13 onwards).
As per IT act requirement Tax Audit has been conducted/done for individuel if his gross receipt exceed Rs 25 Lacs during the FY and for Companies if there turnover exceed Rs 1 Crore during the FY covered in TAX AUDIT (this is for FY 2012-13 onwards).
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CA PRAVEEN SINGH
(Expert)
02 May 2012
Refer to section 44AB of the income tax act.
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