If an individual professional income morethan Rs.10.00 lakhs, is it accounts audited, if yes, is it normal procedure what we are following more than Rs.40.00 lakhs business income
Menu
Professional Income Morethan 10 lakhs
Replies (3)
As per Sec. 44AB Tax Audit is necessary when ur business income exceeds Rs. 40 lakhs and when professional income exceeds Rs. 10 lakhs , so in ur case , tax audit is necessary and yes the procedure to be followed is the same as we do in the case of Business income ....
Regards
Varun Makhija
Thank you Mr. Varun
| Originally posted by :VARUN | ||
| " | As per Sec. 44AB Tax Audit is necessary when ur business income exceeds Rs. 40 lakhs and when professional income exceeds Rs. 10 lakhs , so in ur case , tax audit is necessary and yes the procedure to be followed is the same as we do in the case of Business income .... Regards Varun Makhija |
" |
Recent Threads
- "off market credit transactions" mention
- Section 5A - Portuguese Civil code applicability
- Tax Audit Applicable or not?
- Understanding Why the CA Foundation Pass Percentag
- ITR3 - Switch from Old to New Regime
- Best Online Coaching for CA Intermediate Complete
- FCRA 6A Address Change request
- Can you share how you practically used the list fo
- Parag Sir’s 50+ CA Inter Costing Questions &
- Capital gains builder property
Related Threads
CAclubindia
