banner_ad

Tax audit

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
01 July 2012 Dear All
My client has two proprietorship concerns in which he made sales turnover of Rs. 45 lacks and 53 lacks in the f.y. 2011-12. please tell me weather tax audit will be applicable or not?
Profile Image

Guest

Profile Image

Guest (Expert)
01 July 2012 Sec 44AB of Tax Audit applies person wise and not business wise.

The turnover of two businesses will be aggregated and tax audit will be applicable.
Profile Image

CA Chitta Ranjan Das

Profile Image

CA Chitta Ranjan Das (Expert)
02 July 2012 As per the revised Act, for both the entities stated above, tax audit is not compulsory. The limit for tax audit has been enhanced to Rs.60 lakhs of turnover. However, as both the business belongs to the same person, the T.O. will be aggreegated to find out the taxable income for tax and threfore, Tax audit is applicable to both of them.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details