Audit u/s 44AB

Multiple Business

The Aggregate ( Clubbing) sales, turnover and/or gross receipts of all Businesses ( ACIT v Dr K Satish Shetty) carried on by an assessee would be taken into consideration in determining whether the prescribed limit as laid down in section 44AB has been exceeded or not.

– Turnover is Assessee wise rather than Business wise

– Turnover of All Business Activities carried on by assessee is aggregated other than presumptive(44AD)

Yes, he can opt for 44AD for the business having a turnover of Rs.20 lakhs (provided eligible business), and get the accounts of business having turnover of Rs.1.90 cr audited.

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