Dr. Require Audit ????
This query is : Resolved
16 July 2009
Mr. abc is a Dr. running a hospital. his annual gross receipts are about 25 lacs. is Audit u/s 44AB required for him ????
16 July 2009
As Mr. ABC is a Dr. he renders professional services and thus he is required to get his books of account audited U/s 44AB.
As per the section if the gross recipts of the person rendering professional services is more than Rs. 10,00,000/- then he/she has to get his/her books audited.
As per the section if the gross recipts of the person rendering professional services is more than Rs. 10,00,000/- then he/she has to get his/her books audited.
16 July 2009
Agree
16 July 2009
But as per "Guidance on Tax Audit" issued by ICAI, a Hospital is taken as business and therefore limit is taken as 40 Lacs and consequently will not be liable to Tax Audit.
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