Applicability of tax audit applicable in case of spv/jv

Madan sai (Articleship ) (202 Points)

23 May 2017  

Can anyone please comment whether tax audit u/s 44AB are applicable in case of :

" A Joint Venture/Special Purpose Vehicle whose only income is Dividends from Investments held."

I feel that Dividend income cannot be qualified for business income for purpose of 44AB and hence Tax audit is not applicable.

 

Please share your views.

 

Thanks in Advance.