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Tax audit

This query is : Resolved 

12 July 2010 If a individual has the income give below in the Assessment year 2010-11, he is liable to get his Accounts Audited under section 44AB of the Income Act.

Rent received from renting House Property:30 Lacs

Short Term Capital Gain : 20 lacs

12 July 2010 Dear Sunil

Income from House Property and Capital Gain Income is not considered for Tax Audit purposes. As the Turnover from Business is the deciding factor which is 40 lacs under section 44AB.

So be free from the FEES of CA !!!



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