Tax Audit applicability
This query is : Resolved
30 September 2008
In case of proprietorship which has been converted into partnership on 01/01/2008 and sales upto 31/12/2007 are 32.40 lacs. tell me about the applicability of Tax Audit. the prop. is also partner in the new firm. the firms sales are 8 lacs for 3 months. Please advice me in this regard from the point of view of prop. & partnership.
30 September 2008
As the assessee status is different, the proprietorship business will not attract section 44AB.
30 September 2008
no tax audit is applicable on individual becz both are the different assessees.
30 September 2008
as the sales below 40 lacs of proprietor ship firm ,so no tax audit required
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
- GST Regis.
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Filing of Form 10BB instead of Filing Form 10B
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Should I include march foreign salary received in April in my income for FY 2023-24?
- GST Registration Cancellation books of accounts asked by officer
- TDS deduction 194J instead of EPF
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- MIS MATCH OF INVOICE NUMBER
- 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?
Trending Online Classes
CAclubindia
