tax audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 June 2011
if i have tow proprietory concern having turnover 45 lac & 50 lac & profit 11% in both firm is income tax audit applicable for me
24 June 2011
No tax audit for both the firms if they belong to different assessee.
24 June 2011
Since you are the proprietor of both the firms, turnover of both the firms will be clubbed to determine the applicability of tax audit. Since the turnover in your case of both the firms taken together is more than 60 lakhs, tax audit has to be done for both firms.
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 June 2011
thak you sir
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