Tax audit
This query is : Resolved
05 May 2012
If somebody has a poultry business.Turnover(2011-12) Rs.5800000.00 and net profit Rs.500000.00.In this situation,is Tax Audit mandatory?
05 May 2012
profit is more than 8% so not required.
05 May 2012
Prima Facie Audit is not applicable. However, please check whether there is any other receipts in the business. If the turnover plus other receipts exceed Rs. 60 lakhs, then audit is applicable.
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