Tax audit u/s. 44ab
This query is : Resolved
16 September 2011
Whether total sale is below the prescribed limit i.e. Rs. 60 Lacs the individual is liable for taxaudit on ground that he is showing net profit below 8% in last year and year preceeding that it was above 8% then audit for 10-11 which NP rate will be taken urgent pl advise
16 September 2011
Tax Audit is applicable if the turnover or gross receipts in business exceeds Rs 60 laksh for the Financial Year 2010-11, net profit below certain % etc will not be considered please.
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