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Medical professional income also includes salary income

CA VEERENDRA MURASHILLIN HUBLI (CHARTERED ACCOUNTANT) (123 Points)

01 October 2016

THE INCOME OF A DOCTOR IS RS 1400000 FROM SALARY IN A COLLEGE AND PROFESSIONAL INCOME ( INT ANS SALRY FROM FIRM) IS 1400000.WILL THIS ATTARACT 44 AB AUDIT SECTION

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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 01 October 2016

NO.

The Language of Section 44AB is Clear. The requirement of compulsory audit is only in respect of Business carried on by the person and not in respect of his income from other sources.The audit report is required only in respect of books of account pertaining to the business.(Gai construction v. State of Maharashtra)