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44 ab limit (Income Tax)

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This query is : Resolved


( Author )
29 July 2012

 Sir / Madam

Purchase amount Rs.65 lac is liable to Tax Audit U/s 44 AB for the assessment year 2012-13


CA PARAS BAFNA

( Expert )
29 July 2012

 After the insertion of Section 44AD,
the word turnover in Income Tax Act has got a clearer meaning and that does not reach up to purchases.
.
Sales is to be considered as turnover.



CA mahesh birla

( Expert )
29 July 2012

 i agree with CA Paras Bafna


SANYAM ARORA

( Expert )
29 July 2012

 Agree with the reply


CA Salman Mansoori

( Expert )
29 July 2012

 Totally agreed with Mr. Bafna



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