audit U/s. 44AB & Sec. 44AE
This query is : Resolved
09 June 2010
Dear all
1. the Assesee is engaged in business of scrap having turnover of Rs. 2 Crores therefore audit U/s. 44AB is compulsory
2. the same assessee is also engaged in business of hiring of goods carriers. all the pre requisites of sec. 44AE (Presumtive taxation ) are satisfid.
3. so my query is, as audit u/s. 44 AB is assessewise & not businesswise then it is necessary to maintain books of accounts of hiring of goods carrier business which is otherwise not required by law
4.Does presumptive taxation sections e.g. 44AD, 44AE, 44AF etc. has overriding effect on Sec. 44AA & 44AB ( maintenance & audit of books ) ?
5. any citations will be appreciated
thanks
1. the Assesee is engaged in business of scrap having turnover of Rs. 2 Crores therefore audit U/s. 44AB is compulsory
2. the same assessee is also engaged in business of hiring of goods carriers. all the pre requisites of sec. 44AE (Presumtive taxation ) are satisfid.
3. so my query is, as audit u/s. 44 AB is assessewise & not businesswise then it is necessary to maintain books of accounts of hiring of goods carrier business which is otherwise not required by law
4.Does presumptive taxation sections e.g. 44AD, 44AE, 44AF etc. has overriding effect on Sec. 44AA & 44AB ( maintenance & audit of books ) ?
5. any citations will be appreciated
thanks
09 June 2010
Goto the following link for answer to a query similar to yours........
https://www.caclubindia.com/experts/44ab-tax-audit-of-2-separate-business-by-an-assessee-402085.asp
https://www.caclubindia.com/experts/44ab-tax-audit-of-2-separate-business-by-an-assessee-402085.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Import license renewal
- Credit profit and loss account in case of bonus share received
- How to determine cost of acquisition of shares on De-merger or Merger
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
