Question
Bank Mitra transaction of fund transfer
Consideration is commission
Que. Fund transfer receiving is turnover?
Liable for audit is transaction above prescribed limit (2 cr)
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44AB applicable or not
Replies (2)
Your turnover is aggregate of commission........... If commission exceed 1 Cr. Tax audit is necessary.
In your case commission received will be your turnover for the purpose of section 44AB.
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