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Partners remuneration and interest

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D.SRINIVASULU REDDY

D.SRINIVASULU REDDY (Querist)
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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

CA VISHNU GAVKARE

CA VISHNU GAVKARE (Expert)
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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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