Do I need to get an audit Check?

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IT Consultant
39 Points Posted on 06 July 2011

I have salary income of approximately 4 lacs. and income from profession(Form 16a) of approximately 7 lacs. Together it exceeds 10 lacs.

 

Should I be going for an audit check by a CA? Is the cut off 10 lacs or 15 lacs? Can someone please point me to the corresponding law/rule by the Income Tax authority?

 

TIA,

Krishna

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On 06 July 2011 at 13:47 Report
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CA IN PRACTICE
16719 Points Posted on 06 July 2011

in my view no tax audit is there in your case because both salary and professional income r taxable under the different heads

wait for more replies

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On 06 July 2011 at 13:53
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agree with aditya limit of 10lkh or 40lkh is only nedeed for income from business or profession.

(May be i m not sure above limits are amended).

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On 06 July 2011 at 13:57

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