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
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
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 |
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