TAX AUDIT IF LOSS

This query is : Resolved

Share Report Follow Query Ask a Query

Eldhose MV

Eldhose MV (Querist)
Follow

12 June 2020 Please provide the details regarding audit under sec 44AB in case of loss

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

12 June 2020 No tax audit applicable in case of loss.

swasti

swasti (Expert)
Follow

13 June 2020 Just for academic purpose Sir, if in such case the turnover has crossed the specified limit, what would be the scenario? Kindly guide.

CA Shrey Tripathi

CA Shrey Tripathi (Expert)
Follow

13 June 2020 if Audit is under clause (a), (b) or (c) of section 44AB, then Audit is mandatory regardless of profit/ Loss.. if it is under clause (d) & (e), No Audit if his income does not exceed maximum amount not chargeable to tax

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

14 June 2020 https://cleartax.in/s/tax-audit-section-44ab
https://taxguru.in/income-tax/tax-audit-section-44ab.html
https://www.incometaxindia.gov.in/Acts/Income-tax%20Act,%201961/2016/102120000000058099.htm

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

RAGHUNATH KASIBHOTLA

CA Sunny Sharma

Raviraj ponkshe

adarsh chaturvedi

DEEPAK BHARGAVA

Subscribe Now

TAX AUDIT IF LOSS

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

GST CONSULTANT

Manager- Finance and Compliance

CA Final

GST CONSULTANCY

Accountant