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SECTION 44AB TAX AUDIT

This query is : Resolved 
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(Querist)
13 March 2009 IF PURCHASES ARE EXCEEDING RS.40 LAKH LIMIT THEN ALSO TAX AUDIT APPLY.
AND IF YES THEN PURCHASES INCLUDE WHAT AND WHAT NOT?
PLEASE TELL ME AS IT IS URGENT.
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CA. MITHUN KHATRY

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CA. MITHUN KHATRY (Expert)
13 March 2009 audit is applicable if gross receipts of business exceed 40l not purchase
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
13 March 2009 No.
Tax Audit is not applicable if purchases exceed 40L.
But, VAT Audit will be applicable.
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