Commission income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 June 2018
Sir,
If the assesse is engaged in the business of share trading (proprietorship) and Gross receipts shown and Tax deducted under section 194H on Rs. 50 lakhs or more, whether the have to do audit under section 44ab?
If the assesse is engaged in the business of share trading (proprietorship) and Gross receipts shown and Tax deducted under section 194H on Rs. 50 lakhs or more, whether the have to do audit under section 44ab?
16 June 2018
brokerage/commission is counted as business income. So audit will apply only if the turnover exceeds Rs 1 cr.
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