Audit Applicable or not?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 June 2011
Dear Sir,
I have business turnover of Rs.45,00,000/- during the f.y.2010-11 & profit earned Rs.152000/-.
8% of turnover is not earned so audit is applicable or not?
please reply
thank you
I have business turnover of Rs.45,00,000/- during the f.y.2010-11 & profit earned Rs.152000/-.
8% of turnover is not earned so audit is applicable or not?
please reply
thank you
20 June 2011
As your total income is not exceeding maximum amount not chargeable to tax, you are not liable for tax audit u/s 44AD.
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