Brokarage or Commission
This query is : Resolved
PURNACHANDRARAO G
(Querist)
07 August 2010
Is it necessary to audit the books of account U/S 44AB of income tax Act., in the case of Brokarage or commission exceeds Rs. 40 lakhs for the A.Y. 2010-11.
07 August 2010
Yes Tax Audit is compulsory.
Aditya Maheshwari
(Expert)
07 August 2010
Yes audit u/s 44AB required as turnover exceeds Rs. 40 lakhs during the year.
From next year turnover limit Rs. 60 lakhs.
From next year turnover limit Rs. 60 lakhs.
VINOD ARORA
(Expert)
07 August 2010
Yes, its mandatory in the given case.
Murtaza I Bhagat
(Expert)
07 August 2010
agreed, if current year exceeds rs.40 lacs t.o audit compulsory. but next yes it may be bcs limit is going to be rs.60 lacs.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Import of Software Service.
- Under marginal scheme
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- Oct 2025 Invoices
- Non filing of I T Returns
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- TAX AUDIT ON PROFESSIONAL INCOME
- TDS on Fixed Assets purchased
- Capital Gail Exemption Certificate
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
