Income from business or profession
This query is : Resolved
BHARAT KUMAR SONI
(Querist)
21 June 2016
Income received by an assesses engaged Who in the business of making Jewelry and selling of it . he does not want to opt 44AD . His Income from such business is 550000 (including his Job working Income) i.e First He purchases Raw material, work on raw material made Jewelry . he is required to tax Audit u/s 44AB and his turnover is 86000.
Rupesh Jain
(Expert)
21 June 2016
for mfg. concern 44Ad not applicable, tax audit applicable when turnover exceeds Rs/. 1 corers in a year.
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