Tax audit applicablity
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 March 2016
MY FRIEND HAVING PARTNERSHIP BUSINESS, HE HAS STARTED BUSINESS IN MARCH 2015,
FOR FY 2014-15 THERE IS LOSS IN FIRST YEAR. THEN THIS RETURN REQURIED TO GET AUDITED U/S 44AB
FOR FY 2014-15 THERE IS LOSS IN FIRST YEAR. THEN THIS RETURN REQURIED TO GET AUDITED U/S 44AB
30 March 2016
Yes, if your income declared less than 8% on gross turnover, than your books get to be audited u/s 44 AB
31 March 2016
If the partnership firm is carrying on "eligible business", then TAX AUDIT is applicable.
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
- House Property Reporting in ITR
- Supply through E-commerce Operators
- TDS Claim year
- Sales amount in Gstr1
- Rent lease agreement
- Relief u/s Section 89
- TDS Challan Code
- Agriculture income or business income
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- GST ON DAMAGED GOODS
- REGARDING GST LIABILITY/....
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
