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Tax audit limit- urgent

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 January 2013 What is the tax audit limit for an individual with only rental income (house prop.)?
Plz help! Thanx in advance! :)
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Rahul Vora

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Rahul Vora (Expert)
16 January 2013 It has to be 1 crore for FY 2012-13 as it will not be considered as a professional income.
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Anand

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Anand (Expert)
16 January 2013 No need for tax audit if you are only having income from house property.
tax audit provisions apply only where the gross receipts from business exceed rs. 1 crore or from profession exceed Rs. 25 lakh rupees
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