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Audit of partner

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 September 2015 PARTNERSHIP FIRM IS UNDER AUDIT U/S 44AB. NOW IS PARTNER OF THAT FIRM WILL BE LAIBLE TO AUDIT U/S 44AB. PLEASE GIVE ME REPLY URGENTLY
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
29 September 2015 Just because the partnership firm is under Tax Audit, there is no applicability of Tax Audit on partner.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
29 September 2015 If remuneration exceeds the threshold limit of 44AB, partner is liable for tax audit.

Ref- USHA.A.NARAYANAN'S case decided by Kolkotta tribunal.
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