Tax audit u/s.44ab

This query is : Resolved

Rave Erd (Querist)
Follow

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.

Ravikant

Ravikant (Expert)
Follow

12 January 2012 Tax audit should have been done

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
Follow

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

swati

swati (Expert)
Follow

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.

swati

swati (Expert)
Follow

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.