AUDIT LIMIT
This query is : Resolved
24 July 2011
MR. X IS HAVING PROFESSIONAL INCOME RS. 18 LAKHS AND HAS A PROPRIETARY BUSINESS HAVING TURNOVER RS. 23 LAKHS. WHETHER HIS BUSINESS SHALL BE REQUIRED TO BE AUDITED U/S 44AB?
25 July 2011
The Limit is 15 lac at present and as the turnover is exceeding the minimum limit tax audit has to be done
25 July 2011
Yes, he is required to get his business audited under section 44AB
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