Hi, My husband earns more than 30 lakhs in salary. Is the section 44 AB audit applicable for him?
Since I was reading that one needs to do this for "Professionals". Does this include salaried persons or mainly independent consultants.
Would appreciate your response on this.
Regards
Anjali
“Profession” may be defined as a vacation, or a job requiring some thought, skill and special knowledge like that of C.A., Lawyer, Doctor, Engineer, Architect etc. So profession refers to those activities where the livelihood is earned by the persons through their intellectual or manual skill.
Hence profession includes independent consultant.Salary is not covered here.
Hence 44AB is not applicable for your husband as he earns salary.
| Originally posted by : Jaikishan | ||
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“Profession” may be defined as a vacation, or a job requiring some thought, skill and special knowledge like that of C.A., Lawyer, Doctor, Engineer, Architect etc. So profession refers to those activities where the livelihood is earned by the persons through their intellectual or manual skill. Hence profession includes independent consultant.Salary is not covered here. Hence 44AB is not applicable for your husband as he earns salary. |
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Excellent response, thank you !
CAclubindia
