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Tax audit limits for a person who runs trade come profession
Tax audit limits for person who sells vaccinations and also render consultation service
Replies (5)
Both are considered separately, but if either of them is liable for audit as per sec. 44AB, both are audited.
Refer: ICAI guidance notes
I have 48 lakhs of professional income
and 92 lakhs of trade .In that case both are not within limits there is no need to conduct tax auditp
and 92 lakhs of trade .In that case both are not within limits there is no need to conduct tax auditp
Correct.
which section will specifically tell it is not applicable
Section 44AB of IT act.
Clarification issued by ICAI under Guidance notes (link provided earlier + attached herewith) on page 46 para 5.20.
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