tax audit is required

[Guest]

 Limit of total turn over or gross receipts increased from sixty lakh  to one crore .So, please suggest  tax audit is not required for the case of person carrying business with total gross receipts of Rs.69  lakh for the F.Y.2012-13 and what is the last date for filling return.

[CAGOPALJI AGRAWAL]

The last date is 31/07/2013. 

AI Summary

Tax audit requirement clarified following turnover threshold increase; return filing deadline specified by the advisor. Whether a person carrying on business with gross receipts below the revised turnover threshold is subject to a statutory tax audit and the applicable return filing date; the threshold was increased from sixty lakh to one crore and a business with gross receipts of Rs.69 lakh is questioned as to audit applicability, with the return filing deadline given as 31/07/2013.