TAX AUDIT

SECTION 44AB

A PERSON CARRYING ON PROFESSION:- IF HIS GROSS RECEIPTS IN PROFESSION FOR THE P/Y RELEVANT TO THE A/Y EXCEEDS Rs. 10 LACS.

receipts should exceed Rs10 lakhs to be subjected to the audit u/s 44AB for the profession.

belated return - AY 8-09 - audit u/e 44 ab is applicable to case - can we do e filing - is site accept that return .

for F.Y 2009-10

every person is liable to have tax audit if

1. carrying on business, if his total turnover, total sales or gross recipts as the case may be exeed  or exeeds to Rs 40 lacs in any previous year.
2. carrying a profession, if gross receipt from profession exeeds to rs ten lacs in any previous year.

for F.Y 2010-11

 every person is liable to have tax audit if

1. carrying on business, if his total turnover, total sales or gross recipts as the case may be exeed  or exeeds to Rs 60 lacs in any previous year.
2. carrying a profession, if gross receipt from profession exeeds to rs fifteen lacs in any previous year.

thanks for sharing