Whether to do tax audit or not
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 October 2014
An asseesse his residential status is in india but his income his generated in USD and it is fully credited in US a/c.After conversion of income from USD to indian INR it amounts to Rs.5.50 lakhs.An Assessee has filed a return in US so whether he can get credit of tax paid in US and whether it is neccessary to do tax audit
Nikhil Kaushik
(Expert)
17 October 2014
you may file ITR2/ITR4 depending upon the nature of income. audit will be applicable only where conditions under section 44AB are satisfied.
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