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Income tax audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 October 2012 respected sir,
i hav a query regarding tax audit. suppose a developer shows work in progress a/c and its booking deposits are above 6000000 , does the firm liable for tax audit? its urgent.
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Pankaj Gupta

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Pankaj Gupta (Expert)
01 October 2012 For financial year 2011-12 the developer is liable for audit u/s 44AB as the total receipts has exceeded Rs 60 lakhs.
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Querist : Anonymous

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Querist : Anonymous (Querist)
03 October 2012 thank you sir
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