who is liable for Tax audit
AKASH TYAGI (Senior Accountant) (32 Points)
25 August 2018
anyone can tell me who is liable for Tax audit.... in brief
3 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184906 Points)
Replied 25 August 2018
For any income under head 'PGBP' where section 44AB is aplicable.......
Rakesh Mudaliar
(Student)
(36 Points)
Replied 25 August 2018
whose gross receipt exceed 1 cr in company and 50 lakh and above in profession is livable to tax audit
CA P V N Varma
(CA )
(609 Points)
Replied 25 August 2018
TAX AUDIT IS APPLICABLE IN FOLLOWING SITUATIONS
1) If an assessee having business turnover of more than 1 Crore
2) if an assessee having professional receipts more than 50 lakhs
3) if assessee opt for Presumptive taxation limit is 2 crore
4) if assessee fails to opt Presumptive taxation u/s 44AD, 44ADA for a continues period of 5 years
1) If an assessee having business turnover of more than 1 Crore
2) if an assessee having professional receipts more than 50 lakhs
3) if assessee opt for Presumptive taxation limit is 2 crore
4) if assessee fails to opt Presumptive taxation u/s 44AD, 44ADA for a continues period of 5 years
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