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44ab

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swasti (Querist)
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30 June 2012 Suppose a person is having income from capital gains from shares and no other income. Is it necessary for the person to go for audit or not?

CONFIDENT DENTAL EQUIPMENTS

CONFIDENT DENTAL EQUIPMENTS (Querist)
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30 June 2012 Thankyou for the reply regarding excise duty payment but Central excise Inspector is not agreeing, he is telling the 6th is the duty payment.

Ours is a PCB manufacturing unit, which comes under chapter no. 8534 , turnover less than 4 , please let us know whether our unit comes under SSI unit? what is the chapter NO. 7,7a,7b,7c and 7D. Please clarify.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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30 June 2012 Section 44AB is applicable only to BUSINESS INCOME and NOT other incomes.

Accordingly, if a person has income only from Capital Gains, he is NOT required to get his accounts audited.

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