There was conversion of Proprietorship firm into Partnership firm as on 31-01-2010, the T/O of Proprietorship firm was exceeding the limit u/s 44AB and the same for Partnership firm do not exceed the same section for the period 01-02-2010 to 31-03-2010.
So my Questions are:
1. Should we Conduct Audit for the Whole year ??
2. Is it covered under Partnership Firm U/s 44AB or Proprietorship Firm ??
13 September 2010
Whenever we conduct tax audit it is always against a PAN no. In your case if partnership firm and propertiorship firm have two different PAN then these should be considered two seprate entities for tax audit purpose.
CAclubindia
