44 ab limit
This query is : Resolved
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
Purchase amount Rs.65 lac is liable to Tax Audit U/s 44 AB for the assessment year 2012-13
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.
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.
29 July 2012
i agree with CA Paras Bafna
29 July 2012
Agree with the reply
29 July 2012
Totally agreed with Mr. Bafna
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