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Tax audit applicability

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15 September 2014 If there is no turnover and only work in progress...is tax audit applicable?? what does turnover includes for calculating limit of tax audit?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
15 September 2014 Turnover does not include Work-In-Progress. If turnover crosses Rs 100 Lacs only then Tax Audit Applicable.

For definition of Turnover see page no 20 of Guidance Note on Tax Audit -Revised edition 2014 from link given below:

http://220.227.161.86/34728gn-taxaudit-dtcicai.pdf
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Ashwani Narnoli

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Ashwani Narnoli (Expert)
16 September 2014 Agree withSanjqy sir, turnover does not include wip
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Ashwani Narnoli

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Ashwani Narnoli (Expert)
16 September 2014 * Sanjay Sir

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