44ab person having business & profession together
This query is : Resolved
02 January 2015
In case if Mr A who is individual having Business with turnover of Say 90 Lac and Professional Receipts of Say 20 LaC then how to apply provisions of Sec 44AB to given situation ?
Whether TAX audit is applicable ?
Which Limit is to be Taken ? Eg - 25 Lac or 1 Cr
Seeking for help on this query .
Thank You In Advance .
Whether TAX audit is applicable ?
Which Limit is to be Taken ? Eg - 25 Lac or 1 Cr
Seeking for help on this query .
Thank You In Advance .
02 January 2015
No tax audit is applicable as both the turnover within limits of sec 44AB. Limits has to be separately applied.
02 January 2015
no audit required due to both category is diff-2.
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03 January 2015
I highly appreciate your replies .
Thank You Rupesh and Sitharam .
Thank You Rupesh and Sitharam .
03 January 2015
In above given original case how to file ITR 4 ?
2 separate financial statements or one single consolidated financial statement ?
Seeking for help .
2 separate financial statements or one single consolidated financial statement ?
Seeking for help .
03 January 2015
2 separate financial statements.
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