Whether tax audit or not for commission income
This query is : Resolved
28 August 2013
Case is that
Commission Income of Rs.48 lacs as an assessee is agent of Sahara Q shop, Sahara Credit society and Housing Society .
So whether tax audit mandatory?
Commission Income of Rs.48 lacs as an assessee is agent of Sahara Q shop, Sahara Credit society and Housing Society .
So whether tax audit mandatory?
28 August 2013
Commission income is treated as business income, Rs. 1 Crore limit applies. No need for tax audit.
28 August 2013
Yes,,Tax audit limit for commission income is 1 crore
Reference for more guidence in related to this topic
Circular No. 452, Dated 17.03.1986
Reference for more guidence in related to this topic
Circular No. 452, Dated 17.03.1986
02 September 2013
In this case no tax audit applicable as income is below 1 crore.
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- ITDS U/S.194T of Firm
- GST not cancelled by tenant
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Capital gain on sale and purchase of plot
- CREDIT NOTES WITHOUT GST
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
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
