Tax audit u/s 44 ab
This query is : Resolved
27 September 2014
individual having business turnover from activity 1 normal of business is 90 Lakhs (Which opt for 44AD ) and activity 2 commission/brokerage(which is not eligible for 44AD )turnover is 20 Lakh
so he having total turnover of Rs 110 Lakh. Whether he is liable for tax audit u/s 44ab?
so he having total turnover of Rs 110 Lakh. Whether he is liable for tax audit u/s 44ab?
Nikhil Kaushik
(Expert)
28 September 2014
a person earning brokerage income is not eligible for 44AD at all. please refer 44AD(6).
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