44AB AUDIT
This query is : Resolved
Quick Summary
24 June 2020
HELLO SIR,
MY CLIENT IS PARTNERSHIP FIRM,
HE GET HIS ACCOUNT AUDIT UNDER SEC 44AB FOR LAST 3 YEAR,
NOW F.Y. 2019-20 TURNOVER IS 82,00,000 AND PROFIT IS LESS THEN 8%/6% AND MAINTAIN BOOKS OF ACCOUNTS AS PER SEC 44AA.
MY QUESTION IS
1} IN THIS CASE A.Y 2020-21 TAX AUDIT IS APPLICABLE ? IF YES SO GIVE ME SEC. NOTE.
2} IT IS COMPULSORY TO GET ACCOUNTS AUDIT FOR CONTINUES FOR 5 YEAR ?
IF YES SO GIVE ME SEC. NOTE.
MY CLIENT IS PARTNERSHIP FIRM,
HE GET HIS ACCOUNT AUDIT UNDER SEC 44AB FOR LAST 3 YEAR,
NOW F.Y. 2019-20 TURNOVER IS 82,00,000 AND PROFIT IS LESS THEN 8%/6% AND MAINTAIN BOOKS OF ACCOUNTS AS PER SEC 44AA.
MY QUESTION IS
1} IN THIS CASE A.Y 2020-21 TAX AUDIT IS APPLICABLE ? IF YES SO GIVE ME SEC. NOTE.
2} IT IS COMPULSORY TO GET ACCOUNTS AUDIT FOR CONTINUES FOR 5 YEAR ?
IF YES SO GIVE ME SEC. NOTE.
24 June 2020
1 No, tax audit not applicable.
2 No, it's not compulsory in such a case.
2 No, it's not compulsory in such a case.
26 June 2020
THANK YOU SIR ,
26 June 2020
Welcome............
.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- RELATED TO TRIBUNAL APPEAL
- HOUSING LOAN ISSUE
- TDS AND ITR ISSUE
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- ITR 4 and Bank transactions
- RATE AND HSN CODE
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
