section 44ab
This query is : Resolved
30 October 2007
Individual having gross receipts Rs.17,49,000/- books not maintained what is the tax laibility U/s 44AB Plz sir
30 October 2007
There is a Gauhati High Court judgment that if no books are maintained there can not be audit .This is a reasonable casuse for no audit . Hence no penalty can be imposed for non audit.
However , penalty for not maintaing accounts may be imposed , which is at present Rs 25000/-
However , penalty for not maintaing accounts may be imposed , which is at present Rs 25000/-
30 October 2007
H Sampat,
Can i please get the details for the Judgement
Can i please get the details for the Judgement
30 October 2007
SURAJMAL PARSURAM TODI, TINSUKIA vs CIT, SHILLONG
(1996) 3 GAUHATI LAW REPORTS 3
PENALTY FOR NOT GETTING THE BOOKS OF ACCOUNT AUDITED . NO BOOKS OF ACCOUNT MAINTAINED BY THE ASSESSEE. NO PENALTY CAN BE IMPOSED FOR NOT GETTING THE BOOK OF ACCOUNT AUDITED
(1996) 3 GAUHATI LAW REPORTS 3
PENALTY FOR NOT GETTING THE BOOKS OF ACCOUNT AUDITED . NO BOOKS OF ACCOUNT MAINTAINED BY THE ASSESSEE. NO PENALTY CAN BE IMPOSED FOR NOT GETTING THE BOOK OF ACCOUNT AUDITED
08 November 2007
They have to compulsarily maintain books of account as per sec 44AA. Auditor will provide discalimer opinion in this regard.
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