Tax audit
This query is : Resolved
14 December 2017
If a person deposits cash around Rs. 4 Crores for money transfer in his account which is eventually transferred to other people. His receipts in bank account would exceed Rs. 2 crores which is the limit for Tax Audit u/s 44AB. He only receives commission for money transfer. Whether he will be liable for audit u/s 44 AB and what will be his nature of business i.e as commission agent or business income ???
14 December 2017
44AB attracts only if COMMISSION exceeds rupees one crore.
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
- Errors in lTDS FORM 26 QB FILING FOR Last instalment payment FOR HOUSE PROPERTY PURCHASE
- TDS deposited by party after the filing of income tax returns
- Reg Correction Form 15CB & 15CA
- Regarding Capital gain of NRI
- Gstr9 fy23-24
- LATEST NOTIFICATION RCM ON RENT
- What is the Solution if UPDATED Return139(8A) is Invalid? Or how to Valided Return?
- GST Input disallowed on account of e invoice not issued by supplier
- Commission agent gst registration requirement????
- Appeals pending - time limit
- Is Home Orderly Allowance available to Judicial Officers of India, Taxable?
- Voluntary gst tax given in DRC FORM 3 US 122 AND US125
- Rule 42 Calculation
- At least one Business Code is mandatory either in Schedule Nature of Business or at Point 61
- Fixed assets to be expensed out resulting nil value
- ITC RECREDIT NOT SHOWN IN GSTR 9
- Regarding Tata Motors Stock
- GSTR9 ITC AVAILED CLARIFICATION
- Gstr9 2023-24
- Wrong itc ingstr-3b coloum4-b-1
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
