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Applicability of tax audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 May 2012 Sir, assessee is carrying on two different business.. turnover from one business is 50 lacs and from other business is 80 lacs..

Que. Whether assessee's both business is required to get audit? what if assessee want to show 8% incone u/s 44AD for second business(T/O 50 lacs)
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Deepak Nagori

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Deepak Nagori (Expert)
23 May 2012 Only one business is required to conduct tax audit, which has turnover 80lacs. In respect of the second business, the assessee can opt for presumptive taxation u/s 44AD. A similar problem has been addressed in the Institute Study Material too.
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Deepak Nagori

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Deepak Nagori (Expert)
23 May 2012 Only one business is required to conduct tax audit, which has turnover 80lacs. In respect of the second business, the assessee can opt for presumptive taxation u/s 44AD. A similar problem has been addressed in the Institute Study Material too.
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Querist : Anonymous

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Querist : Anonymous (Querist)
23 May 2012 would you please tell me in which material it is given?
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