tax audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 June 2011
res. sir/madam pls reply me
turnover of two firm ,having same proprietor,
is 55 lac & 50 lac profit is 12% in both firm is tax audit applicable for the proprietor
turnover of two firm ,having same proprietor,
is 55 lac & 50 lac profit is 12% in both firm is tax audit applicable for the proprietor
24 June 2011
yes. as total turnover is above 60 lacs
24 June 2011
Being proprietory, both the firms has to be audited u/s 44AB ,irrespective of the profit percentage,since combained turnover exceeded the threshold limit of Rs. 60/- lacs per annum.
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 June 2011
thank u sir, i got satisfied reply
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