Audit U/S 44AB

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2011 One of the my assessee got mobile recharge approx 8 lakhs commission. but he did recharge more than 60 lakhs in previous year.Is he liable for audit U/S 44 AB?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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28 June 2011 The employee is receiving commission from the company and he is working like an sales agent of the company.
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Whether the company is issuing him sales bill? And, is he issuing sales bills?

If the answer is no then file the return on the basis of commission income as the same will be treated his gross receipts for the purpose of Tax Audit.

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