Turnover criteria for tax audit u/s 44ab
This query is : Resolved
rakesh sharma
(Querist)
11 November 2014
Assessee having 2 proprietary business and Partner of 1 firm. Total turn over of Proprietary concerns is 80.0 Lac for which assessee opts for presumptive taxation u/s 44AD and the assess is getting remuneration of Rs 40.0 Lac and Interest Rs 25 Lac from Partnership business.
Whether he is liable to get his account audited u/s 44AB.
Whether he is liable to get his account audited u/s 44AB.
Nikhil Kaushik
(Expert)
11 November 2014
ideally no. you just need to be careful while filing the tax return.
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