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Salary income more than 40 Lakhs, should I go for Audit?

Tax queries 1680 views 8 replies

An assessee who gets salary more than 40 lakhs. Is he liable to get audit?  And what about if his salary income is 38 lakhs and income from other sources is Rs.5 lakhs?

Replies (8)

nahin saab tab bhi nahin saab

no man no tax audit required to any salaried person

dear sec 44 AA     and 44AB   are only for income from business

NO NEED OF TAX AUDIT IN BOTH THE CASES, TAX AUDIT IS REQUIRED WHEN SALE/GROSS RECEIPTS OF A BUSSINESS IS MORE THAN RS. 40 LACS OR FROM PROFESSION MORETHAN RS. 10 LACS.

dear sir ,

right ans. given by  all member .

boss plz tell me r u a CA student or anybody else

I AM A BANK EMPLOYEE. MY TURNOVER FROM SHARE TRADING IS MORE THAN 60 LACS.

SHOULD I GO FOR AUDIT.

NOT REQUIRED FOR SALARIED PERSON IF HE DOES NOT CARRY ANY BUSINESS WHATEVER HIS INCOME FORM SALARY & OTHER SOURCES...

FOR SHARE TRADING AUDIT IS REQUIRED FORM MORE THEN 40 LACS THIS A.Y...


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