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Medical professional income also includes salary income
THE INCOME OF A DOCTOR IS RS 1400000 FROM SALARY IN A COLLEGE AND PROFESSIONAL INCOME ( INT ANS SALRY FROM FIRM) IS 1400000.WILL THIS ATTARACT 44 AB AUDIT SECTION
Replies (2)
NO.
The Language of Section 44AB is Clear. The requirement of compulsory audit is only in respect of Business carried on by the person and not in respect of his income from other sources.The audit report is required only in respect of books of account pertaining to the business.(Gai construction v. State of Maharashtra)
The individual doctor will.not be subject to tax audit us 44AB
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