Hi,
An individual who is a software consultant - developing software for clients and occasionally training them too.
If his total earnings are in the range of Rs 30 lacs - does he have to get formal Tax Audit done?
Is it not enough to file IT returns using ITR IV?
Thanks
Yes, audit is required if his total receipts exceeds Rs.25 lac in a previous year.
Thankyou experts for your inputs.
Then, professionals like Doctors, Lawyers - are undergoing Audit?
Yes, they are liable to get his tax audit, If Gross receipt exceed Rs25 lac during Previous Year.
Agree with above discussion
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