Tax Audit

Yes, if the gross turnover from business is more than 40 lakhs & gross receipts from profession is more than 10 lakhs for any person, then tax audit is mandatory.

Agree with divya

I knew about this. But is there any other criteria associated with turnover for tax audit??

Thanx..

No. There is no other criteria. But under the cases of presumptive taxation, ie, u/s 44AD, 44AE & 44AF if the assessee claims the income to be lesser than the limits specified in the respective sections then maintaining books of account & audit is mandatory.