Applicability of tax audit
This query is : Resolved
19 August 2013
respected sir,
my clients is sub broker and he received commission of 14 lakh so is he liable to tax audit in AY 2013-14?
and is he liable to audit in any other law?
my clients is sub broker and he received commission of 14 lakh so is he liable to tax audit in AY 2013-14?
and is he liable to audit in any other law?
19 August 2013
under income tax act for brokerage the gross receipts should exceeds Rs.25 lakhs u/s 44AB so he is not liable to tax audit.
CA PARAS BAFNA
(Expert)
19 August 2013
He is not required to get Tax Audit Report.
.
If the sub-Broker is an Individual/HUF/Firm, he is .generally, not covered under audit under any other law.
.
.
If the sub-Broker is an Individual/HUF/Firm, he is .generally, not covered under audit under any other law.
.
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