Tax audit implication
This query is : Resolved
18 December 2015
1.An individual conducts one profession and one business.Turnover from profession is 27 lakhs and turnover from business is 72 lakhs for FY 14-15.Sir,what will be tax audit implications on the above?
Nikhil Kaushik
(Expert)
18 December 2015
audit will be applicable straight away based on professional receipts.
Message likes :
1 times
Ankur Singhal
(Expert)
19 December 2015
Dear Ameya
Audit of Profession as well as Business since professional Receipt exceeds limit i.e Rs.25lakhs.
Your query is same as an example notified by tax guru in their newsletter.
Do ask genuine query.
Audit of Profession as well as Business since professional Receipt exceeds limit i.e Rs.25lakhs.
Your query is same as an example notified by tax guru in their newsletter.
Do ask genuine query.
Message likes :
1 times
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
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- GST on reimbursement of expenses
- Query on effect of registration of property
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Wrong CMPo8 file
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Additional trade name
- Equity Share Sale and Purchase
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
