Hi All,
Is Tax audit while filing ITR mandatory for a proprietor whose turnover exceeds 1 Cr and his entire income is exempted under section 10(26) of the IT Act? Please help !
Much Thanks !
Yangchan (Proprietor) (28 Points)
16 November 2019Hi All,
Is Tax audit while filing ITR mandatory for a proprietor whose turnover exceeds 1 Cr and his entire income is exempted under section 10(26) of the IT Act? Please help !
Much Thanks !
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174673 Points)
Replied 16 November 2019
Yes, being business income, there is no exemption u/s. 44AB of the act...
Kapadia Pravin
(17259 Points)
Replied 22 November 2019
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