Taxation of management consultant

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Dear All , i am have some query in my mind my client is a Management Consultant(PropritershipFirm) and having Income of Rs 200000/- Per month received from company, and also having interest income of Over 2 Lacs , my question is ...

1. is Audit us 44AB is compursory.

2. Can we calculate tax above 8% Formulea on his gross receipt .

3. is interest income includes in gross receipt.what is the gross amount receipt Rs 200000/-*12=2400000+Rs 200000/-=26,00,000/- or Rs 2400000/-

 

awaiting your valueable sugession

Replies (1)

HE WILL COME UNDER SECTION 44AB FOR AUDIT AS HIS GROSS INCOME IS CROSSING THE LIMIT OF 25 LACS INCOME.

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