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Audit u/s44AB

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(Querist)
30 September 2009 My net turnover of sales Rs.38.00 Lacs
(Excl.Vat) if vat includes in sales gross turnover of sales becomes Rs.41.00 lacs.
In this case shall I liable for I.Tax & Vat Audit??????? Pls.help me.
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
01 October 2009 Vat auidt you are exempted since turnover do not include collected taxes.

Whereas IT your turnover included collected taxes therefore tax audit is applicable.

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