18 August 2009
the client has 3 businesses, ALL IN THE PROP. CAPACITY.
the turnover of the businesses is as follows:
1. 32 lakhs
2. 2.5 lakhs
3. 11 lakhs
sec. 44AB is applicable as the total turnover exceeds Rs. 40 lakhs
NOW THE QUES. IS
WHETER THE TAX AUDIT REPORT BE PREPARED FOR ALL THE THREE BUINESSES INDIVIDUALLY WILL THE ANSWER BE CHANGED IF THE TURNOVER OF 1ST BUSINESS IS 42 LAKHS. IN SUCH CASE, WHETHER TAX AUDIT REPORT BE PREPARED FOR ALL THE THREE BUSINESSES.
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