Applicability of tax audit
This query is : Resolved
30 August 2017
Hi friends,
I have have doubt about applicability tax audit in one case. The case is as below:
One person having sale of goods income is Rs.90,00,000/- and contract receipt income is Rs.12,00,000/-. If i combined these both amounts the receipts are exceeding Rs.1,00,00,000/-. If i opt 44AD for contract receipts income of Rs.12,00,000/- the 1 crore limit is not exceeding. Can i separate these both amounts for escaping from tax audit.
Please guide me.
I have have doubt about applicability tax audit in one case. The case is as below:
One person having sale of goods income is Rs.90,00,000/- and contract receipt income is Rs.12,00,000/-. If i combined these both amounts the receipts are exceeding Rs.1,00,00,000/-. If i opt 44AD for contract receipts income of Rs.12,00,000/- the 1 crore limit is not exceeding. Can i separate these both amounts for escaping from tax audit.
Please guide me.
30 August 2017
You can opt for 44AD up to 2 crore hence opt for combined turnover. You can't opt for one business leaving one.
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
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- REGARDING ITR FILING QUESTION
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- Gst reverse charge mechanism to be claimed in the month of payment
- ITR 44AD SECTION
- Missed TDS
- DUE DATE FOR ITR FILING
- Query regarding reporting of exempt foreign remuneration in ITR
- WHERE I SHOW GST 0% INVOICE IN GSTR1 (EITHER TABLE 7 OR TABLE 8)
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
