Tax audit

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alpesh (Querist)
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04 December 2015 dear sir may client has audited for fy 2014-2015 and also deducted tds u/s 194h 1 insurance company 10% and may insuance income exceed rs 100000000 whether i am liable for audit or not

Nikhil Kaushik

Nikhil Kaushik (Expert)
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04 December 2015 dear alpesh,

read section 44AB. its not that complicated.

alpesh

alpesh (Querist)
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05 December 2015 But sir 26 as forms shown 10000000 credit and TDs deducted 1000000 whether I am liable for audit next year

alpesh

alpesh (Querist)
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05 December 2015 This income should be included in sales and I am liable for audit next year

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 December 2015 dear aplesh,

kindly understand the accounting principles to account for the sales during the year and how section 44AB works. Read the guidance note of tax audit issued by ICAI.

get into this habit of learning things through reading...

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