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Tax audit

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(Querist)
23 July 2009 plz let me Know, an assessee(Individual)
was taxed under sec 44AB (Tax audit)last year(A.Y.2008-09) but this year his turnover did not exceed Rs.40 Lakhs, is he liable for tax audit this year(A.y.2009-10.
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chetan soni

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chetan soni (Expert)
23 July 2009 No, the provisions is on yearly basis.

This needs to be checked on year to year basis.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
23 July 2009 No turnover needs to seen on year to year basis
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