Tax audit u/s 44ab

no as per IT act  he is liable for the audit only for the business which turnover is more then 60 lakhs..

Under income tax it doesnt matter if he is havin one business or more..Section 44AB is attracted if the gross receipts are more than 60 lacs from one or more businesses

audit will be done on individual business bases

means 60 loakh limit will be seen seperately for both business 

Setion 44AB applicable is assesse wise not business wise. Because the section starts with the words "every person" not every business.
 

turnover should be clubbed on pan card basis , per pan card if business exceeds 60L then audit is required for all business. as the return and tax audit specifies all the business and turnover of pan card holder assesee, there is no space left for separate audit and non audit summery in return, 

Hi Sandip

I think, in this case the assessee is liable for tax audit u/s 44AB for both businesses. Because if the assessee carries on more than one business, the result of all business should be clubbed together in determinig  the applicability of 44AB.

Eg:

for more understanding please read the attachd guidance note.

Have a liuminus Thans to all of you......

liable for tax audit as in case proprietorship  business, it has to be clubbed togather... Club the T/o of the 2 business....

AGREE WITH ABISHEK

he is under audit as his total buss income exceeds 60 lakhs

the assessee will get only one 3rd for all the business consolidated, 

In this case the assessee is liable for tax audit u/s 44AB for both businesses(i.e. he has two proprietor business) Because if the assessee carries on more than one business, the result of all business should be clubbed together in determinig  the applicability of 44AB.

Eg:

But if an assessee has one proprietor business and he is also a partner in a firm then clubbing of businesses will not be done as both are separate entity...

In income tax audit is assesseewise not businesswise so assessee is liable to audit both the business subject to exceptions like a business under presumptive taxation