Audit u/s 44ab
This query is : Resolved
29 August 2011
hello sir
my asssessee has two business whether both business income are to be aggregated to know whether his gross receipts exceeds 60 lakhs and audited under 44 AB
and another thing is
whether rent on plant & machinery is under the head income form other sources are or not
my assessee has income from rent on plant & machinery ( not owned by him) around Rs. 60 l;akhs
please i need it early
my asssessee has two business whether both business income are to be aggregated to know whether his gross receipts exceeds 60 lakhs and audited under 44 AB
and another thing is
whether rent on plant & machinery is under the head income form other sources are or not
my assessee has income from rent on plant & machinery ( not owned by him) around Rs. 60 l;akhs
please i need it early
30 August 2011
If the businesses are proprietary of the same proprietor, then turnover of all businesses has to be necessarily clubbed to arrive the threshold limit of Rs. 60/- lakhs.
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