Tax audit
This query is : Resolved
27 November 2014
if i recd rs. 60 lakhs on my own behalf and Rs. 45 lacs of my father in my joint account with my father shall i required to audit accounts u/s 44 AB?
27 November 2014
for wat purpose and when u have recieved this amount is not mentioned>
CA Parul Saxena
(Expert)
27 November 2014
tax audit is applicable if your turnover i.e.receipts from business or profession exceeds taxable limit....if you have not received this amount for your business then no need for the tax audit....
Rupesh Jain
(Expert)
27 November 2014
tax audit for turnover not for amount received.
CA JITESH KHANDELWAL
(Expert)
28 November 2014
Until you clarify from which source or in respect of which service you received the amount, it is hard to comment on its taxability and inclusion in turnover limit for audit.
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