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Tax audit applicable or not

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manikanta (Audit Assistant) (67 Points)
Replied 08 September 2011

As per Sec 44AB Tax audit if  Turnover exceeds Rs.60lakhs For AY 2011-12. tax Audit is Applicable.



(Guest)

Learned viral

You are quoting section 2(23) of which Act?

Since S 2(23) of the IT Act defines Firm. 

Please clarify

Thanks

https://taxbykk.blogspot.com/


Manika Venkata Siva Prasad (IPCC-student) (84 Points)
Replied 08 September 2011

In ur case Tax Audit is not applicable u/s 44ab, Tax audit applicable to those whoz turnover exceeds 60lakhs, and it doesnt depends upon purchases.


Alex Fernandes (PCC STUDENT) (186 Points)
Replied 08 September 2011

not applicable at all as the turnover does not exceed the limit specified in 44AB


debo (delete) (31 Points)
Replied 08 September 2011

it is not applicable at all



Swapnil Jain (Finance - FP&A) (564 Points)
Replied 08 September 2011

not applicable.......


Satish kumar (CA-Final Student) (29 Points)
Replied 11 September 2011

Not applicable.. Bcz U/s 44AB v hav 2 consider sales/turnover bt not purchases..



(Guest)

No Tax Audit is not applicable bcoz turnover is considered and not the amount of purchases!!


CA AMIT AGRAWAL (Chartered Accountant) (173 Points)
Replied 26 September 2011

Tax audit provisions  not applicable



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