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44AB AUDIT

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(Querist)
11 May 2009 ADVERTISEMENT AGENCY IS SPECIFIED PROFESSION OR NOT ? ADV. AGENCY IS LIABLE TO AUDIT U/S 44AB IF GROSS RECIPT EXCEED 1000000 IN P.Y. ?
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CA Suresh Choudhary

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CA Suresh Choudhary (Expert)
11 May 2009 i dont think so
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taxindiaconnect

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taxindiaconnect (Expert)
11 May 2009 44 AB applies to all the professession if the receipt exceeds Rs 40 Lac. The specified profession is only for the purpose of secttion 44AA for maintainance if books of accouts.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
11 May 2009 Advertising Agency is a business and not a profession and hence Tax audit not compulsory.

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