One of my Client is having a cloth manufacturing business (Kids Wear). Its Turnover during FY 2012-13 is Rs. 3 Crores. He is also running one more proprietorship business of Courier with a separate Trade Licence and its turnover during the year is Rs. 19 Lakhs. So whether both the business needs to be Tax Audited OR only the cloth business. Please clarify?
11 September 2013
Both firms are required to be audited for 44Ab,,because you cannot file two returns,,so both business to be audited under section 44AB and a single return can be filed after uploading tax audit report online
CAclubindia
