Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

tax audit

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2011 if i have tow proprietory concern having turnover 45 lac & 50 lac & profit 11% in both firm is income tax audit applicable for me

Aditya Maheshwari

Aditya Maheshwari (Expert)

24 June 2011 No tax audit for both the firms if they belong to different assessee.

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)

24 June 2011 Since you are the proprietor of both the firms, turnover of both the firms will be clubbed to determine the applicability of tax audit. Since the turnover in your case of both the firms taken together is more than 60 lakhs, tax audit has to be done for both firms.

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2011 thak you sir

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