Tax audit for company
This query is : Resolved
01 March 2016
For AY 1718. A company will have to undergo if turnover exceeds 1 crore. However, no audit for individual huf partnership firm if turnover upto 2 crores and income offered under 44AD at 8%. Am I right ? I find this discriminatory.
01 March 2016
This is drafting error which will be rectified when the Finance Bill is discussed in Parliament. When the final Finance Bill is adopted, I think the exemption limit u/s 44AB would be enhanced to Rs. 2 Crores.
02 March 2016
It is not an error. The one crore limit in 44AB is retained not to contradict with the substituted section 44AD(4).
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
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- NON- SUBMISSION OF LLP FORM 3
- Last year TDS Claim
- Free lancer income
- Capital Gain on EUITY Shares
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- 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
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
