Sir As per quoted In Section 44AB where a person carrying on business is liable for Tax Audit when the turnover of sales or gross receipts exceeds Rs 40,00,000
So If a person who deals in Gold & Silver ornaments, when is receipts from Gold & Silver Ornaments amounts to Rs 18,00,000 & Labour Charges received amounting to Rs 25,00,000.So whether the person will be liable for Tax Audit OR not?
Till now the person have considered Labour Charges as indirect income.
Whether Labour Charges received form a part of indirect income or it is to be considered as Direct Income.
Please Put Light on The Above Case
Thanking You In Advance
CAclubindia
