Requirement of tax audit
This query is : Resolved
29 July 2008
Sir,
One of my client ( a Doctor ) is running a clinic and he is getting Rs.5.50 lacs as income ( Gross );he is also working as a part time lecturer in a college and his salary income is Rs. 5.50 lacs.Please clarify whether tax audit is required
Sree Prakash
One of my client ( a Doctor ) is running a clinic and he is getting Rs.5.50 lacs as income ( Gross );he is also working as a part time lecturer in a college and his salary income is Rs. 5.50 lacs.Please clarify whether tax audit is required
Sree Prakash
30 July 2008
No, it is the Gross receipt from profession which is to be considered for the purpose of applicability of provisions of tax audit u/s 44AB. In the instant case the limit for tax audit will be Rs 10lac being the gross receipt from medical profession.
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