Commission received
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 September 2014
DEAR SIR,
MY FRIEND HAS AGENCY OF UNINOR
THE TRANSACTION IS RS 6 CRORE ANNUALY
HE RECEIVED COMMISSION 2 %
THE AMOUNT RECEIVED OF RS.6 CRORE FIRST RECEIVED BY HIM THEN AFTER TRANSFER IN UNINOR COMPANY ACCOUNT
HE LIABLE FOR TAX AUDIT ?
MY FRIEND HAS AGENCY OF UNINOR
THE TRANSACTION IS RS 6 CRORE ANNUALY
HE RECEIVED COMMISSION 2 %
THE AMOUNT RECEIVED OF RS.6 CRORE FIRST RECEIVED BY HIM THEN AFTER TRANSFER IN UNINOR COMPANY ACCOUNT
HE LIABLE FOR TAX AUDIT ?
10 September 2014
no since his professional income do not exceeds rs 25 lakhs
10 September 2014
No Tax audit .
Assessee had the Gross receipt of Rs. 12,00,000 (i.e., 6 Crs X 2%) .
Which not liable for tax audit u/s 44 AB as well as 44AD (because 44 AD (vi)(ii) exclude the agency activity)
Assessee had the Gross receipt of Rs. 12,00,000 (i.e., 6 Crs X 2%) .
Which not liable for tax audit u/s 44 AB as well as 44AD (because 44 AD (vi)(ii) exclude the agency activity)
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 September 2014
THANKS FOR REPLYING SIR
18 September 2014
you are welcome.....................
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