Tax audit applicability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 August 2011
Hi
Respected Member
Can u help me regarding following.
1. One Client has total turnover of Rs. 70,00,000/- out of which 59,00,000 from sales and balancing figure from service income of rs. 11,00,000.
2. Same as above case but little change suppose out of above service income of rs. 59000000/- and balancing of rs. 11000000 of sales income then what will be the answer from your side respected sir.
is it tax audit case?
if yes may i know the exact provision of this where it is written?
Respected Member
Can u help me regarding following.
1. One Client has total turnover of Rs. 70,00,000/- out of which 59,00,000 from sales and balancing figure from service income of rs. 11,00,000.
2. Same as above case but little change suppose out of above service income of rs. 59000000/- and balancing of rs. 11000000 of sales income then what will be the answer from your side respected sir.
is it tax audit case?
if yes may i know the exact provision of this where it is written?
CA PARAS BAFNA
(Expert)
22 August 2011
The cases are covered U/Section 44AB(a).
Service Charges income also forms part of the turnover. The term Total sales, Turnover or Gross receipts are to be duly considered.
The cases are Tax Audit cases.
Service Charges income also forms part of the turnover. The term Total sales, Turnover or Gross receipts are to be duly considered.
The cases are Tax Audit cases.
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