Partners remuneration and interest
This query is : Resolved
D.SRINIVASULU REDDY
(Querist)
15 September 2013
Dear Sir
One of my Clients are receive Remuneration of Rs.2,58,5000, and Interest of Rs. 85,00,000 so He is no Others Business Income other then this, HE IS ELIGIBLE TO TAX AUDIT U/S 44AB Is applicable, Remuneration and Interest UNDER WHICH HEAD I HAVE TO DISCLOSED IN INDIVIDUALS SATATEMENT OF INCOME
Please clarify that sir
One of my Clients are receive Remuneration of Rs.2,58,5000, and Interest of Rs. 85,00,000 so He is no Others Business Income other then this, HE IS ELIGIBLE TO TAX AUDIT U/S 44AB Is applicable, Remuneration and Interest UNDER WHICH HEAD I HAVE TO DISCLOSED IN INDIVIDUALS SATATEMENT OF INCOME
Please clarify that sir
CA VISHNU GAVKARE
(Expert)
16 September 2013
no. For the purpose 44ab turnover has to be seen. since he has no other business he has no turnover and not liable for tax audit.
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