13 January 2011
Mr. X is having 3 Proprietary Businesses. Business A is having turnover20 Lacs, Business B is having Gross Receipts20 Lacs and Business C is having turnover25 Lacs. Whether Tax Audit is applicable to Mr. X?
14 January 2011
Yes. It will be under the purview of tax audit. The tax audit limit has to be calculated in respect of assessee and not in respect of business.
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