Audit u/s 44AB
This query is : Resolved
20 September 2010
sir,
one of my Client runs 2 Proprietory firms, & the turnover of one of there firm exceeds 40Lacs limit but another firms turnover is about 10 lacs, Whether we need to audit both the firms or only that firm which exceeds 40 Lacs limit,,,
Hoping for an early reply
Yatharth Sharma
one of my Client runs 2 Proprietory firms, & the turnover of one of there firm exceeds 40Lacs limit but another firms turnover is about 10 lacs, Whether we need to audit both the firms or only that firm which exceeds 40 Lacs limit,,,
Hoping for an early reply
Yatharth Sharma
20 September 2010
Since the assessees turnover is more than 40 lakhs all business needs to be audited.
Message likes :
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22 September 2010
thanks aditya sir, I was of the same opinion too..
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