Sec 44AB Applicability
Suneel Yeligeti (12 Points)
16 January 2021Suneel Yeligeti (12 Points)
16 January 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 16 January 2021
Kapadia Pravin
(17259 Points)
Replied 16 January 2021
vishal yadav
(48 Points)
Replied 16 January 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 16 January 2021
Smit Shah
(524 Points)
Replied 16 January 2021
ayusmita
(Tax consultant)
(5885 Points)
Replied 17 January 2021
Krishna Chaudhary
(Accountant)
(4531 Points)
Replied 18 January 2021
CA Rashmi Gandhi
(Chartered Accountant)
(86318 Points)
Replied 18 January 2021
Saritha.Sheregar
(Articleship)
(22 Points)
Replied 21 January 2021
Tax audit comes under the preview of Sec 44AB of the act .Sec 44 AB is applicable if turnover exceeds 1crore except he does not fall under Sec 44AD
Sec 44AD is applicable if assesse carries on eligible business except business of plying,hiring and leasing goods carriage whose total turnover from the business does not exceeds two crores and have declared profits at rate of 8%or 6%of the turnover then he is not required to get his books audited
If both the conditions or either of the conditions of Sec 44AD are not satisfied then Sec 44AB comes into action and tax audit becomes applicable
In the given case turnover does not exceeds 1crore as specified under sec44AB and neither presumptive taxation of Sec 44AD have been adopted
Thus tax audit is not applicable
ayusmita
(Tax consultant)
(5885 Points)
Replied 21 January 2021
CA Rashmi Gandhi
(Chartered Accountant)
(86318 Points)
Replied 21 January 2021
How???? Can you explain it ayusmita
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India