sec 44ab
This query is : Resolved
24 February 2011
my prob is that if a person has 38 lacs turnover from a proprietorship business and also he is having calary of 10 lacs from a company in which he is director in the previous year 2009-10, does it come under tax audit. kindly explain....
24 February 2011
No need of tax audit since the turnover from "business" is below the threshold limit of section 44AB of the IT Act,1961.
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