Tax audit for person filing return u/s.44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 October 2015
If Individual having business of jewellery making and his turnover for F.Y.2014-15 is over 25 lakhs, is he liable for tax audit?
01 October 2015
Tax audit will be liable only if turnover crosses 1 crore, otherwise section 44AD will be applicable.
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 October 2015
But he do not have any business related PAN and he used his personal PAN for all receipts.
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