guys if a person has Rs.38 lakhs of income from business & profession & Rs. 2 lakh worth interest from fixed deposits will he be qualify for tax audit.had discuss it wid sme of my friends & got mixed reaction but not an assured one so please help me out.
3 Replies
VIkas
(CA)
(112 Points)
Replied 19 August 2009
No, Tax audit is only for Business income. Interest on FDR is income from other sources.
Rohan Prabhudesai
(working in dad's firm)
(26 Points)
Replied 19 August 2009
| Originally posted by :PRANAV MISHRA | ||
| " | YES Vikas is 100% correct | " |
thanks guys...it ws really helpful..
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