Tax Audit u/s 44AB
This query is : Resolved
Guest
Guest
(Querist)
18 November 2008
In case of proprietorship firm turnover exceeds from Rs 40 lakhs but Agriculture Income of the asesse is Rs 5 Lakh So,whether it is mandatory for the assesee to file the ROI with the Tax audit Report u/s 44AB?(Because Agriculture Income is not a taxable Income)
18 November 2008
The method of aggregation is applicable to individuals, HUF, AOP & BOI and not applicable to Firms and Companies. Agricultural produce is used as a raw material in a business then average market price method can be used. Agricultural income is not form part of Turnover.
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
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- 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
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
