Tax audit uner 44AB of income tax act

Selvakumar Selvaraj (Chartered Accountant) (1386 Points)

10 May 2007  
Qn. During the year in a firm total sales for the previous year amounts to Rs.41 lacs, which includes sale of motor car for Rs.2 lacs. According to the opinion of the partners for that particular previous years there is no requirement of tax audit under 44AB of the income tax act. Whether this is correct or not?



"Have a nice day"
Selvakumar.S