Tax audit or not ...
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 June 2012
ection 44 AB of the I T Act says that film actors need to get their accounts audited if their income is above 15 lakhs for the A.Y. 2012-2013.
A is a TV Artist who gets 12 lakhs receipts as Reality Show TV Artist and he also gets 4 lakhs as a Film Actor in a Film which totals to 16 Lakhs.
1.Will A need to get is Accounts Audited or not,as his income from Films was only 12 lakhs or will his income from TV Shows will also be added for the purpose of audit.
2.Does a TV Artist also needs to get his accounts audited if his income goes above 15 Lakhs annually .
Thanks...
A is a TV Artist who gets 12 lakhs receipts as Reality Show TV Artist and he also gets 4 lakhs as a Film Actor in a Film which totals to 16 Lakhs.
1.Will A need to get is Accounts Audited or not,as his income from Films was only 12 lakhs or will his income from TV Shows will also be added for the purpose of audit.
2.Does a TV Artist also needs to get his accounts audited if his income goes above 15 Lakhs annually .
Thanks...
04 June 2012
The limit applies to the total income of a professional, which is 12+4L. As TI>15L tax audit is applicable.
I'd like other experts to reply too.
I'd like other experts to reply too.
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 June 2012
Every profession is not taxable if the income is above 15 lakhs
Only notified professions are liable to audit which includes Film Actors, but do TV artists also are to included as Film actors or not ..
Only notified professions are liable to audit which includes Film Actors, but do TV artists also are to included as Film actors or not ..
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