hi, i would like to know that if an individual carrys 3 business and the total turnover of all of them exceeds 40 lacs then whether he is subject to audit u/s 44AB. in all the businesses he is proprietor
hi, i would like to know that if an individual carrys 3 business and the total turnover of all of them exceeds 40 lacs then whether he is subject to audit u/s 44AB. in all the businesses he is proprietor
if any person carrying 3 different business then turnover of every separate business will be counted for sec. 44AB not overall turnover.
Ageed with nitesh......Audit is applicable u/s 44AB
yes, aggregate turn over of all business take in to consideration for the 44AB purpose.
But Sec 44AB got amended , Accordingly Books of accounts required to get audited only when Gross Receipt / Turn over exceeds Rs 60 L
the first thing is that the limit is now 60lac
and furthur for audit u/s 44AB, turnover is taken seprately for every business, so, not applicable to your case at all
I am talking abt Assessment year 2010 - 11.
U/S 44AB the limit is taken for seprately for each business, so it is not come under in this section and exempt from tax audit
| Originally posted by : Dheeraj | ||
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the first thing is that the limit is now 60lac and furthur for audit u/s 44AB, turnover is taken seprately for every business, so, not applicable to your case at all |
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agree .....
seperately for each business n dey are nt clubbed U/s 44AB
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