Hi All,
Can Anybody tell me if a assessee (individual) for whom tax audit was applicable in assessment year 2009-10 but in A.Y. 2010-11 his turnover does not exceed the limits so tax audit is applicable for him or not?
Is it a company what's the implications? tax audit applicable or not?
No Tax Audit is not applicable to the assessee.
Regards,
Devendra Kulkarni
| Originally posted by : Devendra | ||
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No Tax Audit is not applicable to the assessee. Regards, Devendra Kulkarni |
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agree......
"NO, TAX AUDIT IS NOT AT ALL APPLICABLE TO ASSESSEE IF PRESCRIBED LIMIT IS NOT CROSSED FOR THE YEAR CONCERNED"
As far as TAX AUDIT is concerned, the gross receipts or turnover is taken into account for the year concerned i.e. it is purely year basis.
It is not necessary that if tax audit was applicable in A.Y.2009-10 then it wil also applicable in A.Y.2010-11
In this case tax audit is not applicable for individual for the A.Y. 2010-11.
In the case of company also tax audit will not be applicable, but statutory audit will be there.
no tax audit will not be applicable, only in case of Company it is compulsary immaterial of turnover
| Originally posted by : Nilesh | ||
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Agreed with Nilesh |
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thanks everybody yaar
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