Tax Audit U/s 44 AB
This query is : Resolved
20 June 2008
If a Proprietor is having 2 seperate Business having no linkage with other.
The turnover of one Business is Rs. 35 Lacs & the other is having Rs. 38 Lacs.
Whether tax audit is applicable to the assessee?
The turnover of one Business is Rs. 35 Lacs & the other is having Rs. 38 Lacs.
Whether tax audit is applicable to the assessee?
20 June 2008
if one is wholsaes & other is retail & assessed U/S 44 AF then audit is not required otherwise audit is compulsory
28 June 2008
1. As stated above if the person carrying 2 retail business of different nature & showing profit as per Sec. 44 AF.,tax auddit is not applicable. Can I apply for another business?
2. According to Sec. 44AB (Sec.44 AB makes it obligatory for a person carrying on business to get his accounts audited .......if his total sales, Turnover or gross receipts in business exceeds Rs. 40 Lacs....) it is not cleared whether it is for a person or for a business???
2. According to Sec. 44AB (Sec.44 AB makes it obligatory for a person carrying on business to get his accounts audited .......if his total sales, Turnover or gross receipts in business exceeds Rs. 40 Lacs....) it is not cleared whether it is for a person or for a business???
16 June 2023
Its for person or PAN base...
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
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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?
- Query for dubts
Trending Online Classes
CAclubindia
