Tax Audit

Hello Shivangi,

U r absolutely correct, tax audit may be applicable,

for ur doubt pls. read the reply given by Mr. Sunil & my response to that.

Thanks

Sunil ,

        Just for information purpose, i believe share of profit may not be included under definition of gross receipts for 44AB , i think only revenue taxable receipts should be included in gross receipts definition for 44AB .

      Although receipts are nowhere defined .