Tax and audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2011
I am having three proprietorship firms engaged in three different nature of businesses. I would like to know whether the cumulative turnover of all the three businesses would be taken in consideration or will the limit be applicable to each of the firms separately while computing the limit prescribed u/s 44AB.
08 September 2011
cumulative turnover shall be considered for the tax audit.
However if you opt the sex 44AD, then all business shall be considered separately.
However if you opt the sex 44AD, then all business shall be considered separately.
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