Tax audit u/s 44 ab
This query is : Resolved
Praveen Kochar
(Querist)
20 December 2011
One of my assessee is doing the business of recharge voucher. For this, he is getting commission on recharge value.
For Tax Audit u/s 44 AB , whether the commission amount is taken as turnover purpose or Gross receipt is taken.
Gross receipts - Rs. 6600000/-
Commission Received- Rs.650000/-
Whether audit is mandatory?
For Tax Audit u/s 44 AB , whether the commission amount is taken as turnover purpose or Gross receipt is taken.
Gross receipts - Rs. 6600000/-
Commission Received- Rs.650000/-
Whether audit is mandatory?
CA Garav Gulati
(Expert)
20 December 2011
commission received will be considered for 44AB.
CA Suresh Choudhary
(Expert)
20 December 2011
Yes agree with expert, Since Commission is below 60 Lacs Limit, he is not liable to gets his account audited u/s. 44AB.
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