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REGARDING TAX AUDIT

This query is : Resolved 
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(Querist)
14 September 2008 SIR/MADAM

MY QUERY IS AS FOLLOWS:

A PROFESSIONAL PARTNER'S CAPITAL ACCOUNT CREDITED WITH RS. 30 LACS AS HIS REMUNATION, RS 2 LACS AS INTEREST ON CAPITAL AND SHARE OF PROFIT OF RS. 3LACS.
THE DISALLOW PORTION OF THIS PARTNER'S REMUNATION IN FIRM'S ACCOUNT WAS RS. 14 LACS.

MY QUERY IS THIS PARTNERS ACCOUNT IS COMES UNDER THE TAX AUDIT OR NOT ?
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
15 September 2008 No, it is not a receipt from profession to be covered under section 44AB for the purpose of Tax Audit.
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