Tax Audit Report

This query is : Resolved

N R ARUNA (Querist)
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07 February 2008 An individual is the prorietor of 3 concerns all of which need to be audited under section 44AB. Pl confirm as to how many 3CD should be filed. Is one 3CD enough or should it be given separately for each concern? Kindly give reference to case laws, if any

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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07 February 2008 In the case of individual, it is enough if one 3CD is filed covering all the three concerns. Tax audit is with reference to the assessee only and not with the number of business the assessee has.

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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07 February 2008 Section 44AB speaks of turnover of the person and the turnover of the concerns. As such a single 3CD covering all the concerns of the person is sufficient compliance of the section

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Gaurav Gupta

Gaurav Gupta (Expert)
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21 February 2008 The Tax Audit report u/s 44 AB for each concern shall be accompanied by separate 3CD as the qualification if any in the report of each concern shall be covered by separate 3CD.The Income from each business shall although be taxable under the head PGBP.