AUDIT U/S 44AB
This query is : Resolved
15 January 2011
DOCTOR RUNNING A HOSPITAL UNDER PROPRIETORSHIP WITH GROSS RECEIPTS Rs. 20 LACS INCLUDING CONSULTANCY RECEIPTS OF Rs. 4 LACS. IS HE LIABLE TO GET HIS A/C AUDITED U/S 44 AB.
KINDLY SUGGEST CASE LAW FOR THE ABOVE CASE ALSO.
KINDLY SUGGEST CASE LAW FOR THE ABOVE CASE ALSO.
15 January 2011
Yes, he is Liable as Gross receipts exceeds Rs.15 lakhs as per section 44AB
15 January 2011
It is possible to argue that the assessee is carrying on "profession" vide page 24 of ICAI publication "Issues on Tax Audit".
15 January 2011
he has to go for tax audit as he his carrying specified profession and his gross receipt is more than the min limit for the same
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