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TAX AUDIT - TRANSPORTER

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 March 2010 THE ASSESSEE IS ENGAGED IN THE BUSINESS OF TRANSPORTATION & HAS ISSUED TRANSPORTATION BILLS OF RS 75 LACS. ALL THE VEHICLES USED FOR TRANSPORTATION ARE ON HIRE & ASSESSEE HAS PAID AN HIRE CHARGE OF RS 30 LACS.

IS HE LIABLE FOR AUDIT.
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sachin alwadhi

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sachin alwadhi (Expert)
28 March 2010 there is limit of 60 lacs for audit from april 1,2010.currently there is limit of 40 lacs.
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
28 March 2010 I hope the above case tax audit will be attracted
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sachin alwadhi

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sachin alwadhi (Expert)
28 March 2010 yes in above case limit of 40 lacs has been croosed.
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
01 April 2010 yes tax audit is applicable in above mention case
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