About me
Practising CA
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What kinds of questions I can and can't answer?
Accounting theories, Auditing standards & procedures, Companies Act , Income tax, Excise & Service tax queries, Information technology basics Academic course related queries
My area of expertise
Accounting, Auditing, Companies Act, Direct and Indirect taxation
My experience in the area (years):
6 years
Organizations I belong to:
BSR & Associates
Publications or writing which has appeared :
Educational credentials:
CA
Award & Honors:
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SACHIN GURAV
says
: tax audit
Tax audit is applicable for business receipts excding 40 lacs and for prof recpts excdng 10 lacs. In this case we first have to classify the nature of business as prof or business. based on this classidication we have see tax audit is applcble or not. in the current scenario it is business hence the limit is 40 lacs. Pl also refer to guudance note on tax audit for further clarification
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