Applicability sec 44ab
This query is : Resolved
28 September 2012
My client is "Real Estate Partnership firm" having total commission received for the FY 2011-12 is Rs.19.36 lakhs. Will tax audit appilicable OR Not Pls Inform Me As early as possible.
Regards
Nagaraju D
Regards
Nagaraju D
CA Lokesh Pokharna
(Expert)
28 September 2012
it depends , whether this comission income is profession type or business...
28 September 2012
My Client "Real estate Partnership Firm" is not purchasing any asset in his name to sell thereafter but he works as Media like broker for that he is getting commission the total commission received for FY 2011-12 is Rs.19.50 lakhs. pleas advice me whether it is a business or profession. to know the applicability of 44AB of Income tax act.
CA MANOJ GUPTA
(Expert)
01 October 2012
NO NEED FOR TAX AUDIT
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