whether tax audit is applicable if turnover from business is 86 lakhs and turnover from profession is 20 lakhs?

Questions › Category: CA-Final Tax Audit › whether tax audit is applicable if turnover from business is 86 lakhs and turnover from profession is 20 lakhs?

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audit Staff asked 9 years ago

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Ravi Staff answered 9 years ago

hello harun, in section 44AB there is separate limit for business Rs 1 Crore as well as profession Rs 25 Lakhs so we have to check comparison of business and profession seperately. so in this case as we separate comparison tax audit will not be applicable.
but if business crosses 1 crore then tax audit will be applicable to business as well as profession and vice versa.