income tax

SUKANTA PAUL (Querist) 05 September 2009 This query is : Resolved
sir one of my individual client has business income more than 10 lakhs, is he required to audit his account

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A V Vishal (Expert) 05 September 2009
Paul,

Clarify is he a professional having professional income or is he into business and his business income is more than 10 lakhs. If he is professional then the answer is yes, he needs to be audited but if he is a businessman than the turnover of his business needs to cross 40 lacs to be audited.

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