Question ID :
41158
tax audit limits
Assessee is having turnover of Rs.99 lacs from contractual business and 1.5 lacs from hiring services u/s 44AE. Whether the same would be included in Gross turnover for Tax Audit or not. Otherwise Assessee can declare his income @ 6% on contractual receipts u/s 44AD and 1.50 lacs under 44AE without getting audited
Posted by
SURAJ KUMAR CHOUDHARY
on
Oct 06, 2021
Filed Under
DIRECT TAXES
Turn over for 44AB is Rs. 100.50 lacs. Turnover for 44AD is Rs. 99 lacs and for 44AE is 1.50 lacs. Which option to choose is left out for your judfgement.
Posted by
B.CHACKRAPANI WARRIER on
Oct 07, 2021