Audit of partner
This query is : Resolved
Querist : Anonymous
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
29 September 2015
Just because the partnership firm is under Tax Audit, there is no applicability of Tax Audit on partner.
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.
Ref- USHA.A.NARAYANAN'S case decided by Kolkotta tribunal.
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