Coverage under specified profession for audit u/s 44ab
This query is : Resolved
rajesh bapna
(Querist)
07 January 2012
The assessee, an individual, is MCA by qualification. He is carrying the business of developing web-sites, software and other allied IT work. The turn over/receipt is going to exceed 15 lac this FY. Whether he falls under specified profession for maintenance of books of accounts u/s 44AA and qualifies for audit u/s 44AB or not?
If he not covered u/s 44AB and pays salary to some employees above non-taxable limit. Then TDS provisions on salary u/s 192 is applicable or not?
If he not covered u/s 44AB and pays salary to some employees above non-taxable limit. Then TDS provisions on salary u/s 192 is applicable or not?
CA Hardik Bunha
(Expert)
07 January 2012
section 44ab will be applicable if turnover exceeds 15 lakhs.
For maintaince of books of account- it it compulasary to maintain books of account faor professional.u/s 44aa
if 44ab not applicable then he could pay salary above taxable limit no requirement to deduct TDS.
For maintaince of books of account- it it compulasary to maintain books of account faor professional.u/s 44aa
if 44ab not applicable then he could pay salary above taxable limit no requirement to deduct TDS.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- 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
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
