Rupesh Soni (Taxation Consultant & CA final student) (504 Points)
11 October 2013
CA Pallav Singhania
(IT System Auditor)
(33362 Points)
Replied 11 October 2013
Difference Between Earlier provisions and Amended provisions..
Upto the A.Y.2010-11
Eligible assessee Individual, HUF, AOP, BOI, firm, Co., Co-operative society or any other person.
From the A.Y.2011-12
Eligible assessee Individuals, HUFs & partnerships firms (not being a LLP).
Any business except the business covered under Sec.44AE. However commission agents specifically excluded by FA 2012.
Mayank Mall
(CA-Final)
(316 Points)
Replied 12 October 2013
No, Sorry But its not applicable for AOP or BOI or Society As well......Ad Yes, Tax Audit will be Needed in Case Profit below 8% is to be shown, where proper books are to be maintained for the same.
CAclubindia
