Applicability of tax audit
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 May 2012
Sir, assessee is carrying on two different business.. turnover from one business is 50 lacs and from other business is 80 lacs..
Que. Whether assessee's both business is required to get audit? what if assessee want to show 8% incone u/s 44AD for second business(T/O 50 lacs)
Que. Whether assessee's both business is required to get audit? what if assessee want to show 8% incone u/s 44AD for second business(T/O 50 lacs)
23 May 2012
Only one business is required to conduct tax audit, which has turnover 80lacs. In respect of the second business, the assessee can opt for presumptive taxation u/s 44AD. A similar problem has been addressed in the Institute Study Material too.
23 May 2012
Only one business is required to conduct tax audit, which has turnover 80lacs. In respect of the second business, the assessee can opt for presumptive taxation u/s 44AD. A similar problem has been addressed in the Institute Study Material too.
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2012
would you please tell me in which material it is given?
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