As per Sec 44AB Tax audit if Turnover exceeds Rs.60lakhs For AY 2011-12. tax Audit is Applicable.
manikanta
(Audit Assistant)
(67 Points)
Replied 08 September 2011
As per Sec 44AB Tax audit if Turnover exceeds Rs.60lakhs For AY 2011-12. tax Audit is Applicable.
Learned viral
You are quoting section 2(23) of which Act?
Since S 2(23) of the IT Act defines Firm.
Please clarify
Thanks
Manika Venkata Siva Prasad
(IPCC-student)
(84 Points)
Replied 08 September 2011
In ur case Tax Audit is not applicable u/s 44ab, Tax audit applicable to those whoz turnover exceeds 60lakhs, and it doesnt depends upon purchases.
Alex Fernandes
(PCC STUDENT)
(186 Points)
Replied 08 September 2011
not applicable at all as the turnover does not exceed the limit specified in 44AB
Satish kumar
(CA-Final Student)
(29 Points)
Replied 11 September 2011
Not applicable.. Bcz U/s 44AB v hav 2 consider sales/turnover bt not purchases..
CA AMIT AGRAWAL
(Chartered Accountant)
(173 Points)
Replied 26 September 2011
Tax audit provisions not applicable
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