Applicability sec 44ab

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sreedhar (Querist)
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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.

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Nagaraju D

CA Lokesh Pokharna

CA Lokesh Pokharna (Expert)
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28 September 2012 it depends , whether this comission income is profession type or business...

sreedhar

sreedhar (Querist)
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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

CA MANOJ GUPTA (Expert)
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01 October 2012 NO NEED FOR TAX AUDIT

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