Can anyone please comment whether tax audit u/s 44AB are applicable in case of :
" A Joint Venture/Special Purpose Vehicle whose only income is Dividends from Investments held."
I feel that Dividend income cannot be qualified for business income for purpose of 44AB and hence Tax audit is not applicable.
Please share your views.
Thanks in Advance.
" I feel that Dividend income cannot be qualified for business income for purpose of 44AB and hence Tax audit is not applicable."
Correct. Specifically when the shares are held as INVESTMENT in books of accounts.
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