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What is tax audit

Answer Posted / dhananjay kumar purbey

As per U/s 40AB of income tax act,1961 Every person who has
gross turnover exceeded 60 lacs or professional receipt
exceed from Rs.15 lacs is foll under
audit compulsury . This is the tax audit .
In tax audit every transaction is checked carefuly
relating tax and or that transaction comes under any Act.

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