Tax Audit

Amit Raj (I.T. Practitioner) (67 Points)

25 July 2009  

 An individual  having 2 business. one having the turnover of Rs. 32 lakh and the other having turnover of Rs. 12 Lakh. Is he is required for Tax audit? The later business having the turnover of Rs 12 lakh is a retail trade and is Calculating his Net Profit more than 5% of the T.O u/s 44AF. (No Books of accounts was maintained )