Section 44 ab
This query is : Resolved
29 February 2012
If one person carries on two business, one is professional and second is trading business.
In professional the gross receipts is 1400000 and in trading business turnover is 5500000.
So my query is whether it is auditable under the section 44 AB or not?
In professional the gross receipts is 1400000 and in trading business turnover is 5500000.
So my query is whether it is auditable under the section 44 AB or not?
29 February 2012
44AB audit will be applicable since the professional receipt is more than Rs.12,00,000/-.
29 February 2012
Srinivas Ji
For professional's gross receipts should be > Rs.15,00,000/- to attract section 44AB.
For professional's gross receipts should be > Rs.15,00,000/- to attract section 44AB.
29 February 2012
Mr.Jignesh Ji
ICAI says both business and profession has to be audited. Page 25 of their June 2000 publication viz.,"Issues on tax Audit".
ICAI says both business and profession has to be audited. Page 25 of their June 2000 publication viz.,"Issues on tax Audit".
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS Deducted AY-2013-14 Not Reflected in 26as
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- NRI starting business in India
- ADVANCE PAYMENT OF ADVOCATE
- Filling ITR - U
- TDS Return Q1 FY 2026-27
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
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
