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Whether tax audit applicable

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(Querist)
28 September 2011 one assessee is involved in devloping business, his wip for the year end 31.3.2011 is above Rs.60 lakhs,
whether tax audit liable
pls tell urgently
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mukul mehra

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mukul mehra (Expert)
29 September 2011 yes he is required to get his accounts audited if the total sales, turnover or gross receipts in business exceed sixty lakh rupees in the previous year.
According to section 44AB of Income tax Act
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