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income tax audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 January 2011 my client is partnership firm engaged in construction business,firm purchase material and land which exceeds 40 lakhs but there is no sale of flats as these were not fully constructed but there is advance received for booking of flat whether my client will be liable for tax audit
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
24 January 2011 visit this link
https://www.caclubindia.com/forum/tax-audit-real-estate-85690.asp
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Ratan Sharma

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Ratan Sharma (Expert)
24 January 2011 No need of tax audit as the turnover doesnt exceeds 40 lacs.
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