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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tax audit
Replies (3)
Tax audit is not applicable
Sir I am doing business. & my turnover is 50 lakh... My profit is 500..... Am I eligible for tax audit aur not?
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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