Gourav (Student) (86 Points)
23 March 2010Hi Friends,
Will the following case will be liable for TAX AUDIT u/s 44AB:
An individual has recieved around 9.8 Lakh as professional fees & is receiving around Rs. 11 Lakh from a business(here the business of the assessee is that the assessee is the owner of coaching institute where the assessee also teaches)..
So will the above case be liable for tax audit??
Thank you.
Richa
(B.Com, CA Final Stdnt)
(113 Points)
Replied 23 March 2010
I have modified my answer,pls refer it again
in my opinion the assessee should not liable for Tax Audit because his professional receipts are less than 10lakhs and his business is not also liable for tax audit.....................
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