A person has about 20 Lacs in income from salary (director of pvt ltd ), rent, and interest income on FDs.
In addition, person also sold about 60+ Lacs of exhange listed shares of public listed companies, which is all long term capital gains and no tax is due on this.
Are there any requirements for this person to have a personal tax audit done as net inputs are 80Lacs+ even though only 20L is subject to tax?
(The pvt ltd co. of which the person was a director is independently audited ofcourse)
(The person is also deceased during AY but was living during full FY. In this case should extra precuations be taken ?)
CAclubindia
