Applicability of tax audit
This query is : Resolved
Peeyush Kumar Gupta
(Querist)
13 December 2014
An individual carring real state bussiness, he have a sale of rs. 80 lcs in all year, the assets which he sold have dlc value of rs. 1.1 cr. What will be the treatment for audit? Whether it is covered under 44 ab or 44ad. How will u treat it?
14 December 2014
According to provision of section 43CA of the income tax act of 1961 you required to consider the value adopted by District level committee (DLC) as sales .i.e., 1.1 Crs.
Answer : Conduct tax audit u/s 44AB
Answer : Conduct tax audit u/s 44AB
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
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- GST on Renting godown to KFCSC for Storage of Raagi
- Oct 2025 Invoices
- TAX AUDIT ON PROFESSIONAL INCOME
- Capitalgain tax purposes for valuation report compulsory
- Under marginal scheme
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
