Whether tax audit should be conducted
Querist : Anonymous
reply as soon as possible urgent.
Querist : Anonymous
but according to section 44AB as stated in Income tax site it is written that If sale exceeded rs. 1 crore in any previous year.
What this any previous year indicate?
Previous year (refer section 3) is the financial year immediately preceding the assessment year.
In your case asst.yr is 2014-15. Previous year is fin.yr.2013-14. Turnover < 1 crore, tax audit not mandatory in F.Y 2013-14.
Querist : Anonymous
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