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Whether tax audit or not for commission income

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(Querist)
28 August 2013 Case is that
Commission Income of Rs.48 lacs as an assessee is agent of Sahara Q shop, Sahara Credit society and Housing Society .
So whether tax audit mandatory?
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raghavender upadhyay

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raghavender upadhyay (Expert)
28 August 2013 Commission income is treated as business income, Rs. 1 Crore limit applies. No need for tax audit.
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Ganeshbabu K

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Ganeshbabu K (Expert)
28 August 2013 Yes,,Tax audit limit for commission income is 1 crore

Reference for more guidence in related to this topic

Circular No. 452, Dated 17.03.1986



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Jay V

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Jay V (Querist)
02 September 2013 Thanks for your kind replies.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
02 September 2013 In this case no tax audit applicable as income is below 1 crore.

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