44ad or 44ab
This query is : Resolved
18 September 2012
If HUF having two source of income, 1st is his textile t/o other is commission income as he is commission agent. as in case business t/o is not exceeding the limit of 60 lacs bt bcz of the commission income his total income exceed the limit of the 60 lacs. so plz give me way as for what i can go 44AD or 44AB for the same.
CA Ayush Agarwal
(Expert)
18 September 2012
Tax Audit is Applicable.
18 September 2012
BT as per sec 44AB neither T/o exceeds 60 lacs nor gross receipt exceeds 15 lacs.
then how 44AB can be applied?
then how 44AB can be applied?
CA Ayush Agarwal
(Expert)
18 September 2012
In This Case, Both Have Separate Limits a sof Business & Profession.
so 44AB not Applies.
Audit u/s 44AD Applies if Not Showing Profit 8% or receipts.
so 44AB not Applies.
Audit u/s 44AD Applies if Not Showing Profit 8% or receipts.
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