04 April 2012
in case of jewellery bus and bus of lending of loans agnst jwellery , for calculating the tax audit limit whether both will be considered or only jewellery bus and net interest earned on lending will be considered?
04 April 2012
YOU CAN OPT FOR SECTION 44AD IN RESPECT OF JEWELLERY BUSINESS, IF JEWELLERY BUSINESS RECEIPTS ARE LESS THAN 60LAKHS IN THE F.Y 2011-12. THAN FOR LENDING OF LOANS AGNST JEWELLERY CAN BE CONSIDERED SEPARATELY.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
05 April 2012
A is having a business of mnf jewellery and also lending agnst jewellery. In that cse for calculating the tax audit limit of turnover whether net interest earned will be considered or gross amt gvn will be taken as turnover . what will be the effect in case if the main business includes gvn loans & advances agnst jewellery.....??????????????
CAclubindia
