Turnover u/s 44AB...

This query is : Resolved

Rajesh (Querist)
Follow

14 August 2010 Dear Experts,
While an assessee sells his land for more than 60 lakhs should we have to do tax audit u/s 44AB.
In other words for the purpose of tax audit whether sales or revenue includes sale of land.
Is there a circular clarificaton or explanation in the Act itself specifying what are considered to be sales or revenue.
Pls. quote the section or case laws or circular nos. so that i shall say in this point with conviction.
With regards,
Rajesh.

CA Punit

CA Punit (Expert)
Follow

14 August 2010 Tax Audit is applicable if turnover of BUSINESS exceeds 60 Lacs & turnover does not include sale consideration of a capital asset...

Message likes : 1 times

CA Sanat Pyne

CA Sanat Pyne (Expert)
Follow

14 August 2010 AGREE WITH PUNIT JI.
there is no need to mention any case law as section as it is clearly mention in section 44AB Tax Audit is applicable if turnover of BUSINESS exceeds 60 Lacs & turnover does not include sale consideration of a capital asset...

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA K GIRIDHAR

shubham agrawal

T E SOUNDARARAJAN

Krishnan V

Sivanath VV

Subscribe Now

Turnover u/s 44AB...

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Manager- Finance and Compliance

Senior Executive

Accountant

GST CONSULTANCY

CA Final