Whether to prepare tax audit report?
This query is : Resolved
28 June 2013
an assessee has received commission income for the year 2012-13 amounting Rs.33lakhs.
so as per sec.44AB whether he is liable for tax audit or not? and whether such assessee could be termed as "Specified professional"?
waiting for the reply. thankyou in advance.
so as per sec.44AB whether he is liable for tax audit or not? and whether such assessee could be termed as "Specified professional"?
waiting for the reply. thankyou in advance.
28 June 2013
As per the Guidance Note on Tax Audit issued by ICAI, it is business income and he is not a specified professional according to the IT Act also.
28 June 2013
HE IS NOT IS SPCIFIED PROFESION AND ALSO NOT COVERED U/S 44AD
IT MEAND THAT NOT REQUIRED TP DECLARE 8% PROFIT
IT MEAND THAT NOT REQUIRED TP DECLARE 8% PROFIT
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