Audit of Accounts
This query is : Resolved
13 January 2011
Mr. X is having 3 Proprietary Businesses. Business A is having turnover20 Lacs, Business B is having Gross Receipts20 Lacs and Business C is having turnover25 Lacs. Whether Tax Audit is applicable to Mr. X?
Regards,
Devendra Kulkarni
Regards,
Devendra Kulkarni
14 January 2011
Yes, being proprietory business, turnover of all such businesses may be summed up to determine the limit of section 44AB.
14 January 2011
Yes. It will be under the purview of tax audit. The tax audit limit has to be calculated in respect of assessee and not in respect of business.
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