Whether to do tax audit or not

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 October 2014 An asseesse his residential status is in india but his income his generated in USD and it is fully credited in US a/c.After conversion of income from USD to indian INR it amounts to Rs.5.50 lakhs.An Assessee has filed a return in US so whether he can get credit of tax paid in US and whether it is neccessary to do tax audit

Nikhil Kaushik

Nikhil Kaushik (Expert)
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17 October 2014 you may file ITR2/ITR4 depending upon the nature of income. audit will be applicable only where conditions under section 44AB are satisfied.