44AB

This query is : Open

CA Saurabh (Querist)
Follow

11 December 2009 Please Advice Me whether a person whose income exceeds Rs 40 Lakhs by combining 2 incomes(One From Manufacturing Activity & Consultancy Services)is Covered under Sec 44AB??? Plaease mention the Case Laws for the refrence.

Sunil

Sunil (Expert)
Follow

11 December 2009 1) If consultancy receipts exceeds 10 lakhs audit is applicable even if the combined total is less than 40 lakhs.

2) If the combined turnover / receipts exceed 40 lakhs,then audit is applicable.

CA Saurabh

CA Saurabh (Querist)
Follow

11 December 2009 Please give me the the case laws for the refrence?//

Upgrade to CAclubindia Pro. Subscribe Now!