Applicablility of audit


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 June 2015 When assessee is dealing in goods and also has commission based business of the same goods whether audit under sec 44AB will apply to it if its turnover is below 1cr and profit declared is less than 8% ?

19 June 2015 since he is doing business on commission basis too, he is anyways not eligible to file return under 44AD. So the audit is not applicable. But section 44AA has to be complied with

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 June 2015 sir if he has commission / brokerage income from othe than goods he is trading then what to do in that situation? will 44AD apply and audit is required if declaring less than 8% profit?

19 June 2015 same logic..any assessee with any commission income is not eligible for 44AD.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro

Follow us
add to google news


Answer Query



Company
28 July 2026
Senior accountant

RJ Public School

Bengaluru

B.Com

View Details
Company
29 July 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
Featured 16 July 2026
Semi Qualified Company Secretary

Vakilsearch.com

Chennai

CS

View Details
Company
11 July 2026
CA semi qualified

Vakilsearch.com

Chennai

CA Inter

View Details
Company
20 July 2026
Senior GST Executive

Chandak Agarwal & Co

Mumbai

Graduate (Any)

View Details
Company
06 July 2026
Senior Accountant

Arvindkumar Maniar & Co.

Rajkot

CA

View Details
Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
ARTICLESHIP 23 July 2026
Article

Gianender & Associates

New Delhi

CA Inter

View Details