Tax audit u/s 44ab
This query is : Resolved
05 August 2011
MR. X IS A PROPRIETOR OF A 3 FIRM AND THE TURNOVER IS AS FOLLOWS-
A- 72 LAKHS
B- 8 LAKHS
C- 267 LAKHS
THEN FOR B FIRM ALSO HE SHOULD DO THE AUDIT???
A- 72 LAKHS
B- 8 LAKHS
C- 267 LAKHS
THEN FOR B FIRM ALSO HE SHOULD DO THE AUDIT???
05 August 2011
X has an option to declare income @8% U/s 44AD if he does not want to get audited the Firm B.
Otherwise, audit is necessary.
Otherwise, audit is necessary.
05 August 2011
As for my personal point of view limits in 44AD and 44AB is person wise and not business wise so he has to get all his business audited.
05 August 2011
Seems Ashwani Ji is correct.
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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Exiting partner in partnership firm in gst portal
- Banking Related Issue
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- IT returns for fresh job holders
- Due Date Clarity
- NRI INSURANCE ADVISOR
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
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
