Section 44AB - Is it necessary to do Tax Audit?

C.A. M.Com. Suhas A. Nagpure (CA) (1175 Points)

24 August 2009  

I am engaged in wholesale business and also have a commission agency. My turnover from wholesale business this year is Rs.38 lakh while my commission income is Rs.5 lakh. Do I have to get my accounts audited since the total is exceeding Rs.40 lakh?