Tax Audit applicability
This query is : Resolved
30 September 2008
In case of proprietorship which has been converted into partnership on 01/01/2008 and sales upto 31/12/2007 are 32.40 lacs. tell me about the applicability of Tax Audit. the prop. is also partner in the new firm. the firms sales are 8 lacs for 3 months. Please advice me in this regard from the point of view of prop. & partnership.
30 September 2008
As the assessee status is different, the proprietorship business will not attract section 44AB.
30 September 2008
no tax audit is applicable on individual becz both are the different assessees.
30 September 2008
as the sales below 40 lacs of proprietor ship firm ,so no tax audit required
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
- Reopen of assessment proceeding
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EPF FULL & FINAL RULES IN 2026
- Rental income gst and it purpose
- Putting a heading on received mail
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
