Sec 44AB in case sales less than 40Lac
This query is : Resolved
28 March 2011
Sir
In case of Individual, having the business firms in which he is partner. In case of one of the firm Sec 44AB is applicable since sales exceed 40 lac during 2009-10. But in the same year Turnover of other business firm does not exceed 40lac.plz tell me if Sec 44AB is applicable to this firm also.
In case of Individual, having the business firms in which he is partner. In case of one of the firm Sec 44AB is applicable since sales exceed 40 lac during 2009-10. But in the same year Turnover of other business firm does not exceed 40lac.plz tell me if Sec 44AB is applicable to this firm also.
28 March 2011
IN THE CASE OF INDIVIDUAL, TURNOVER OF THE ALL BUSINESS WILL BE CONSIDERED AS COMBINED FOR THE APPLICABILITY OF SEX 44AB.
IN THE YOUR CASE ONLY ONE TAX AUDIT IS REQUIRED FOR BOTH BUSINESS
IN THE YOUR CASE ONLY ONE TAX AUDIT IS REQUIRED FOR BOTH BUSINESS
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
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- RCM INVOICING FROM NOV-2024
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- 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
- Issue of gst e invoice
Trending Online Classes
CAclubindia
