requirement of audit
This query is : Resolved
28 August 2010
if a proprietor has 3 concerns & has a turnover of rs. 30 lacs each..wheter all the concerns should be audited or not???in assessment year 2010-2011 & 2011-2012????
plz inform as early as possible....
plz inform as early as possible....
28 August 2010
Yes and yes for both years.
28 August 2010
Where the assessee carries on more than one business activity, the result of all business activity should be clubbed together, in other words, the aggregate sales, turnover and/or gross receipts of all businesses carried on by an assessee would be taken into consideration in determining whether the limit has been exceeded or not. however where the business is covered by section 44B or 44BBA turnover of such business shall be excluded. similarly where the business is covered by section 44AD,44AE or 44AF and the assessee opts to be assessed under the respective sections on presumptive basis, the turnover thereof shall be excluded
Message likes :
1 times
28 August 2010
Agree with Experts, Turnover count is assesse wise not business wise.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Sale of property furniture sale
- Applicability of Tax audit u/s 44AB of income tax act, 1961
- Question about eligibility for tax rebate u/s 87A
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- IGST Credit-Show cause notice issued-confusion
Trending Online Classes
CAclubindia
