Become a Govt. Certified GST Practitioner in just 60 hrs. Register Now!

tax audit

Pushpraj (student) (186 Points)

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..??

Reply
Follow
Share

3 Replies

Balaji Ramalingam (Student - CA Final) (285 Points)
Replied 10 February 2018

Tax audit is not applicable

Upgrade to CAclubindia Pro. Subscribe Now!

Pushpraj (student) (186 Points)
Replied 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?

Balaji Ramalingam (Student - CA Final) (285 Points)
Replied 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.