44ab audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2013
My client is having two businesses both are proprietorship concern and the proprietor is one .in 1 business turnover is 65laks and in another 60 lakhs whether section 44AB is applicable and is accounts to be audited or can he go for estimation under sec44AD
09 June 2013
The audit u/s 44AB is to be conducted as the total turnover of the business(es) of the assessee is more than the limit i.e. Rs.100.00lacs.
09 June 2013
yes in proprietoship, it does not concern with individual business .... considation of both business is applicable. so in ur case 44ab is applicable.
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