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tax audit

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student
186 Points Posted on 10 February 2018
HUF - TURNOVER - 500000
PROFIT - 30000

NOT covered under 44AD under on estimate basis and maintaining books of accounts.

Whether tax audit applicable or not..??
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On 10 February 2018 at 16:26 Report
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Student - CA Final
285 Points Posted on 10 February 2018
Tax audit is not applicable
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On 10 February 2018 at 16:48
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student
186 Points Posted on 10 February 2018
Sir I am doing business. & my turnover is 50 lakh... My profit is 500..... Am I eligible for tax audit aur not?
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On 10 February 2018 at 17:39
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Student - CA Final
285 Points Posted on 10 February 2018
Tax audit (u/s 44AB) is applicable only if the turnover or gross receipts exceeds Rs.1cr in the case of business or 50lakhs in the case of profession, unless otherwise required to get audited under other sections viz., 44AD.
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On 10 February 2018 at 18:49


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