22 June 2016
One of the assessee having a proprietorship business with a turnover of 50,00,000 & he is having a Income of Remuneration & Interest on Capital from one of his partnership business of 60,00,000 whether he is liable for Tax Audit?
22 June 2016
you query, is ok due to some of person not known, that if you are taking the receipts of the firm remuneration is exceeds 1 crores , then audit u/s 44AB is compulsory.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
22 June 2016
Sir My Exact Case is like this: Receipts from Consultancy Charges Rs 950000 Interest on capital from two partnership firms = Rs 7000000 Remuneration from Firm = Rs 6800000 Sir Kindly reply keeping in view the above factors and also provide me if any notification is issued in this regards or interpretation in Section or any case facts. THANK YOU