applicability of audit
This query is : Resolved
07 April 2009
My client has two business in different name under proprietorship concern. Turnover of both firm is Rs. 20.50 and 20.25 lacs respectively. Whether audit is applicable on both firm?. In case one firm turnover Rs. 41.00 and second firm turnover Rs. 21.00 then whether both firms are liable for audit or only only one firm which turnover above 40.00 lacs is liable for audit under income tax act
07 April 2009
One firm where turnover is more than 40lakhs will come under the purview of tax audit. Other firm need not be tax audited.
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
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- FORM 26A APPLICABILITY
- Value of property in capital gain
- Copyright software
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
