Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 22 July 2019
1. According to sec 44AB tax audit will be applicable only if your Gross receipts or T.O exceeds Rs. 1 crore during the year.
2. In the above case since your T.O is only Rs. 15 lakhs tax audit u/s 44AB will not be applicable even if you don’t opt for presumptive taxation scheme u/s 44AD.
3. In your case, ITR-3 can be filed.
Please correct me if the above solution has an alternative view.
Tax Baddi
(37 Points)
Replied 22 July 2019
In my opinion, Income from partnership firm is Rs 18000/- which is less than 6%/8% of the total turnover plus income is more than maximum exemption limit. So you are required to get audited books of accounts of partnership firm, If opted for 44AD in previous year.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 July 2019
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 July 2019
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 July 2019
Tax Baddi
(37 Points)
Replied 22 July 2019
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 July 2019
Tax Baddi
(37 Points)
Replied 22 July 2019
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