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


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news



Answer Query



Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details