44AB AUDIT
This query is : Resolved
11 May 2009
ADVERTISEMENT AGENCY IS SPECIFIED PROFESSION OR NOT ? ADV. AGENCY IS LIABLE TO AUDIT U/S 44AB IF GROSS RECIPT EXCEED 1000000 IN P.Y. ?
11 May 2009
i dont think so
11 May 2009
44 AB applies to all the professession if the receipt exceeds Rs 40 Lac. The specified profession is only for the purpose of secttion 44AA for maintainance if books of accouts.
11 May 2009
Advertising Agency is a business and not a profession and hence Tax audit not compulsory.
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