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applicability of tax audit u/s 44ab

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accounting & taxation freelancer
246 Points Posted on 25 August 2019
dear all,

please suggest me, whether it is applicable tax audit a LLP having Turn Over below 10 lakh and having loss before giving salary and interest to partners.

thanking you,
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On 25 August 2019 at 18:33 Report
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17264 Points Posted on 25 August 2019
44AB applies depending upon turnover execcefing 1 Crore. Here it is below 10lakhs. so 44AB does not apply
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On 25 August 2019 at 19:19
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Student
23693 Points Posted on 25 August 2019
TAX AUDIT u/s 44AB of the Income Tax Act 1961 is not applicable if the Turnover of Business is less than Rs. 1 crore.
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On 25 August 2019 at 21:55
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accounting & taxation freelancer
246 Points Posted on 26 August 2019
its not a general firm , its LLP
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On 26 August 2019 at 14:15


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