Audit applicable or not
This query is : Resolved
12 September 2013
if a person having professional income as 5 lacs and job works business income as 25 lacs is he applicablefor audit ??
12 September 2013
Tax audit is not applicable since the limits not crossed u/s.44AB both category
12 September 2013
The 44AB section stipulates that every person carrying on business or profession is required to get his accounts audited by a chartered accountant before the "specified date" and furnish by that date the report of such audit,
if the total sales, turnover or gross receipts exceed Rs.60 lakhs(100 lakhs from financial year 2012-13) in the case of business and gross receipts exceed Rs.15 lakhs (25 lakhs from financial year 2012-13) in the case of profession - vide clauses (a) and (b) of section 44AB.
Hence in ur Csse Tax Audit is not applicable...
if the total sales, turnover or gross receipts exceed Rs.60 lakhs(100 lakhs from financial year 2012-13) in the case of business and gross receipts exceed Rs.15 lakhs (25 lakhs from financial year 2012-13) in the case of profession - vide clauses (a) and (b) of section 44AB.
Hence in ur Csse Tax Audit is not applicable...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TAN for Partnership
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- NON- SUBMISSION OF LLP FORM 3
- Long Term Service award taxability in hands of company
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Last year TDS Claim
- What is provisional receipt number for generation of form 16A
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
