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applicability of tax audit u/s 44ab


VINAYAK HEGDE (accounting & taxation freelancer)     25 August 2019

VINAYAK HEGDE
accounting & taxation freelancer 
 10 likes  243 points

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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,

avater

Kapadia Pravin   25 August 2019

Kapadia Pravin

 916 likes  14288 points

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44AB applies depending upon turnover execcefing 1 Crore. Here it is below 10lakhs. so 44AB does not apply

avater

Shivam RC (Student)     25 August 2019

Shivam RC
Student 
 2383 likes  18712 points

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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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avater

VINAYAK HEGDE (accounting & taxation freelancer)     26 August 2019

VINAYAK HEGDE
accounting & taxation freelancer 
 10 likes  243 points

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its not a general firm , its LLP


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