Requirement of tax audit
This query is : Resolved
29 July 2008
Sir,
One of my client ( a Doctor ) is running a clinic and he is getting Rs.5.50 lacs as income ( Gross );he is also working as a part time lecturer in a college and his salary income is Rs. 5.50 lacs.Please clarify whether tax audit is required
Sree Prakash
One of my client ( a Doctor ) is running a clinic and he is getting Rs.5.50 lacs as income ( Gross );he is also working as a part time lecturer in a college and his salary income is Rs. 5.50 lacs.Please clarify whether tax audit is required
Sree Prakash
30 July 2008
No, it is the Gross receipt from profession which is to be considered for the purpose of applicability of provisions of tax audit u/s 44AB. In the instant case the limit for tax audit will be Rs 10lac being the gross receipt from medical profession.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Traces submitting correction statement error
- NRI INSURANCE ADVISOR
- Missed TDS
- IT returns for fresh job holders
- F&O reporting in ITR
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Gst on travel by air for business purposes
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
