Income from House Property - Stat Audit required?

Rajendra Jaiswal (Student - IPCC) (58 Points)

14 July 2010  

Hi,

A firm is having Income from House property over Rs.45 lakhs in AY 2010-11.

Business Turnover is Rs. 10 Lakhs and Income from other sources (Interest etc) is Rs. 2 Lakhs.

Will the firm need to be Audited or No?

Business receipts and turnover is not over Rs. 40 Lakhs / Rs. 10 Lakhs but income from House Property is...

So will we need to Audit the books of accounts of the firm and file IT Return by 30th Sept or file IT Return by 31st July without Audit?