Tax Audit Applicability of Professionals for A.Y.2011 -12

2151 views 3 replies

Dear Sirs,

                   One of our client was subject to Tax Audit during A.Y.2010-11.

                   He is a Professional.

                   He has earned the following Income for the A.Y.2011-12 :-

                  1) Business Income (Professional)       (Apr-Nov)                           >  Rs.14,00,000

                  2) Income from Salaries                        (Dec-Mar)                          >  Rs.  9,00,000

                  3) Income from Other Sources                                                        > Rs.      20,000

 

                  Kindly let me whether he is liable for Tax Audit for the A.Y.2011-12 considering the above facts .

                  Awaiting your reply at the earliest.

                 

                 Thank you

                    

Replies (3)

plz provide the gross receipts of your profession, coz applicability of tax audit is determined by the gross receipts rather than the net profit/income...........--sec 44AB

in case, if your gross receipt exceed15 LAKH, then tax audit ll b applicable.....

 

plz correct me if m wrng

Dear Sumit Sir,

                      The Gross Receipts of the Individual (who is a professional) is Rs.14,00,000 only

                       So will Tax Audit be applicable to him

                        Kindly reply

     Thanks

For service providers if gross recipet exceeds rs 15,00,000 then only sec 44AB is applicable for tax audit.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details