Poonawalla fincorps
Poonawalla fincorps

Tax audit applicable or not

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(Querist)
29 September 2015 Hi every one

Our Company is a subsidiary company.Our holding company in US.In the last year our total turnover was less than 1 crore. So we are applicable for tax audit u/s 44AB or not. Please clarify on this.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
29 September 2015 If the turnover of the company is less than Rs 1 Crore then Tax Audit not applicable irrespective of turnover of Holding Company.

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