Tax Audit
This query is : Resolved
25 July 2011
Sir,
An Assessee Who had received a Professional receipts of Rs.8,90,000/- u/s.194 J (As per Form-16 A) and Commission of Rs.8,90,000/- u/s.194 H (As per Form-16 A) during the financial year 2010-11.
My Query is
1.Whether he is liable for Tax Audit
u/s.44 AB or not ?
Kindly respond quickly.
An Assessee Who had received a Professional receipts of Rs.8,90,000/- u/s.194 J (As per Form-16 A) and Commission of Rs.8,90,000/- u/s.194 H (As per Form-16 A) during the financial year 2010-11.
My Query is
1.Whether he is liable for Tax Audit
u/s.44 AB or not ?
Kindly respond quickly.
25 July 2011
It depends on the kind of profession he does. If the same is covered in profession u/s 44AA or 194J. Then you have to get it audited otherwise you may take the benefit of Sec 44AD.
25 July 2011
Commision income would be business income and profesional would be professional receipts.
As the section 44AB states or for the conditions and since the conditions are not satisfied you are not liable for tax audit.
As the section 44AB states or for the conditions and since the conditions are not satisfied you are not liable for tax audit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- TDS on property - Form 141 query
- Exiting partner in partnership firm in gst portal
- TDS offline utility
- Due Date Clarity
- NRI INSURANCE ADVISOR
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
