If any assesse donot have any income under head B/P, but has 80 lakhs as house rent reciepts & 25 lakh interest under head other income
Liable to tax audit?
Menu
Tax audit applicability
Replies (3)
Not liable to tax audit. Tax audit covered u/s 44AB which is under the head Profits and gains from business and profession.
No. Tax audit is applicable only if assessee has income from business or profession.
I THINKS
FIGURE IS NOT BELEIVEABLE 80 LACK RENT AND 25 LACK INTEREST
BUT IF THIS FIGURE IS RIGHT , 44AB NOT APPLICABLE
BECAUSE YOUR INCOME FROM HOUSE PROPERTY AND OTHER SOURIES
Recent Threads
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
- Family Pension Army
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
Related Threads
CAclubindia
