Tax audit u/s.44ab
This query is : Resolved
12 January 2012
Dear Friends,
Assessee had received a COMMISSION alongwith INCENTIVE of his service for Rs.62.75 lakhs for the AY 2011-12.
Is this accounts AUDITED u/s. 44AB or not?
Especially my doubt on 'INCENTIVES".
Awaiting the response immediately.
Assessee had received a COMMISSION alongwith INCENTIVE of his service for Rs.62.75 lakhs for the AY 2011-12.
Is this accounts AUDITED u/s. 44AB or not?
Especially my doubt on 'INCENTIVES".
Awaiting the response immediately.
12 January 2012
Yes incentives treated as part of Commission.....Tax audit u/s 44AB mandatory in this case because reciept exceed Rs. 60 Lac
13 January 2012
As per sec 44 AB if an assessee carrying on business and his total sale/turnover/receipt exceeds 60lack in p.y than he has to get his accounts audited.
13 January 2012
As per sec 44 AB if an assessee carrying on business and his total sale/turnover/receipt exceeds 60lack in p.y than he has to get his accounts audited.
CA Deepak S
(Expert)
13 January 2012
The assesse has to get the accounts audited u/s 44AB
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