Eligible for Tax Audit Or Not
This query is : Resolved
17 August 2009
Respected all,
i found that in the P.Y. 08-09 my company income is around 39 lakhs ..........but since 2005 its income is more than 40 lakhs hence tax audit is done ........I want to know this year what is to be done..........whether tax audit should be carried out or not
i found that in the P.Y. 08-09 my company income is around 39 lakhs ..........but since 2005 its income is more than 40 lakhs hence tax audit is done ........I want to know this year what is to be done..........whether tax audit should be carried out or not
17 August 2009
Tax Audit is based on turnover or Gross receipt, not on Income. so if your turnover is 39 lakhs then 44ab Audit is not required
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