Audit u/s. 44ab
This query is : Resolved
07 July 2016
One of my client has gross receipt of Rs. 8Lac from his profession as a corporate trainer. As this was his first year of business, he has genuine expenditure of Rs. 7Lac. Whether the assessee can file his return without Tax Audit u/s. 44AB? Or whether 44AB is applicable. There are contradictions in various articles in this.
Please advise.
Please advise.
07 July 2016
No tax audit required for a gross professional receipt of 8 lacs.
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