A person carrying on profession will also have to get his accounts audited before the specified date, if gross receipts from the profession for a previous year or years relevant to assessment year exceed —
CS Executive · Tax Laws and Practice · PYQS · December 2014
A person carrying on profession will also have to get his accounts audited before the specified date, if gross receipts from the profession for a previous year or years relevant to assessment year exceed —
Answer & Explanation:
Correct Answer: Option (A)
Correct answer: (A) ₹25 lakh. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.
Topics: Income Tax Act, 1961
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