is tax audit assesee wise or business wise????
7 Replies
Varun.T.K
(CA Final, CS Executive)
(365 Points)
Replied 24 January 2010
Assessee wise. Say, if i am a sole proprieotor for multiple business whose individual turnover itself exceeds the limits prescribed under 44AD, i shall be liable for tax audit for the business not individually for each business, but as a whole.
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