Whether tax audit applicable for flat owners association

Flat owners association  - whether liable for tax audit u/s 44 AB if the gross receipts from service charges received from members exceed 100 lakhs
Asked 1 year ago in Income Tax from CHENNAI, Tamil Nadu
Yes tax audit is applicable if the gross receipts will exceed Rs 100 lakhs.
Vijay N. Kale
CA, Hyderabad
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Yes
Shyam Sunder Modani
CA, Hyderabad
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