Apllicability of tax audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2014 ONE OF MY FRIEND IS A PROFESSIONAL SINGER

AS PER HIS 26AS INCOME RS. 23 LACS UNDER SEC 194J & RS. 5 LACS U/S. 194C FOR AY 2014-15

MY QUESTIION IS THAT IS IT NECESSARY TO GET HIS BOOKS OF ACCOUNTS AUDITED ? IF THE ANSWER IS NO, CAN HE FILE RETUN U/S. 44AD UNDER PRESUMPRIVE INCOME

PLEASE PROVIDE BEST ANSWER

THANKS

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2014 yes as total income exceeds rs 25 lakhs then tax audit is applicable....

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2014 But sir out of total income Rs. 500000 is under section 194c and is contract income but not as a professional capacity

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2014 income def includes all sorts of income for the purpose of tax audit........................

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