CA Day celebration 2024 Easy Office
LCI Learning

Applicabilty of Sec 44AB

This query is : Resolved 

22 May 2010 Proprietorship Concern

Turnover of trading business 35 Lacs
Gross receipt of Hiring Business 15 Lacs

Whether liable to tax audit u/s 44AB ?

22 May 2010 If the both the business are running under the name of same proprietor then Tax audit u/s 44 AB shall be applicable.

But if both business are running under the name of different proprietor,then in both the cases Sec 44 AB shall not be applied, as income does not exceed 40L.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query