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Tax audit compulsory

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 August 2014 DEAR ALL,
1.TAX AUDIT IS COMPULSORY IF GROSS RECEIPT IS MORE THAN 100 LAKS?

2.IF COMPANY INCURRED LOSS, AND GROSS RECEIPT IS NOT MORE THAN 100LAKS, TAX AUDIT IS COMPULSORY?

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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 August 2014 1. yes, tax audit shall apply.

2. no tax audit wont apply as gross receipts are not exceeding the prescribed limit

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