Tax Auditing Query - Is it required?

A person X receives Salary from a company and other than that, he has other source of Income also. The company deducts TDS when disbursing the salary to X. His total income is above 40 Lacs (Salary + Other income), but if other Income is only taken into account, its under 40 Lacs. Now my query is - whether Tax auditing is required for this individual X and whether this individual will be considered as HNI?

The Sec 44AB of I T Act is as follows

44AB. Every person,鈥?br>
(a) carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds forty lakh rupees in any previous year; or

(b) carrying on profession shall, if his gross receipts in profession exceed ten lakh rupees in any previous year; or

(c) carrying on the business shall, if the profits and gains from the business are deemed to be the profits and gains of such person under section 44AD or section 44AE or section 44AF 15[or section 44BB or section 44BBB, as the case may be, and he has claimed his income to be lower than the profits or gains so deemed to be the profits and gains of his business, as the case may be, in any previous year,

get his accounts of such previous year audited by an accountant before the specified date and that date the report of such audit in the prescribed form duly signed and verified by such accountant and setting forth such particulars as may be prescribed :



Note:
Sec 44AB will be apply only if there is income from business or profession and to calculate limit of Rs 40lac the turnover of the business should be considered and not the net income from that business. whether your other sources income is from business and its turnover exceeds Rs 40 Lac you required to get your accounts audited

do not consider the salary portion for a tax audit

depends on his source of other income. it is from business, yes, audit IS required