44 AB Application
This query is : Resolved
CA. Shiburaj K
(Querist)
06 August 2009
One of our client, who is a doctor and is working as on part time basis in hospital and receiving a receipt of Rs.11,50,000/- He recives Form 16 A from the concern. Whether he is liable for audit under section 44AB.
Abhishek Mohta
(Expert)
07 August 2009
As per sec 44AB every person carrying on any profession as prescribed and if his/her gross receipts from that profession exceeds Rs. 10 lacs then he is liable to get his books of account audited under this section.
As in your case the client is a doctor which is a profession prescribed under the act and his receipts is more than Rs 10 lacs thus he is liable to get his books audited.
As in your case the client is a doctor which is a profession prescribed under the act and his receipts is more than Rs 10 lacs thus he is liable to get his books audited.
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