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44ab

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(Querist)
30 June 2012 Suppose a person is having income from capital gains from shares and no other income. Is it necessary for the person to go for audit or not?
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(Querist)
30 June 2012 Thankyou for the reply regarding excise duty payment but Central excise Inspector is not agreeing, he is telling the 6th is the duty payment.

Ours is a PCB manufacturing unit, which comes under chapter no. 8534 , turnover less than 4 , please let us know whether our unit comes under SSI unit? what is the chapter NO. 7,7a,7b,7c and 7D. Please clarify.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
30 June 2012 Section 44AB is applicable only to BUSINESS INCOME and NOT other incomes.

Accordingly, if a person has income only from Capital Gains, he is NOT required to get his accounts audited.
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