Tax audit u/s.44ab

This query is : Resolved

Rave Erd (Querist)
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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)
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12 January 2012 Tax audit should have been done

CA VISHAL RANA,CS,B.Com,AMFI

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

CA Deepak S (Expert)
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13 January 2012 The assesse has to get the accounts audited u/s 44AB

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