TaxTMI 
TaxTMI 
Issue in 44Ab and DVAT
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....ssue in 44Ab and DVAT<br> Query (Issue) Started By: - Vinod Kumar Dated:- 13-12-2012 Last Reply Date:- 15-12-2012 VAT + CST<br>Got 2 Replies<br>VAT / Sales Tax<br>As per Budget 2012 the limit of 44AB....
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.... has been extended by 1 Cr but is the same limit will be applicable in case of DVAT also ? In other words if an assessee having turnover of 80 lacs and registred under VAT then whether he is liable t....
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....o get his accounts audited to fullfill the requirments in Delhi VAT ? Thanks in advance Reply By Pradeep Khatri: The Reply: Since both the Tax i.e. Income Tax and DVAT are exclusively independent, ....
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....i.e. one is central act and the other one a levied by the Delhi State, therefor provisions of the Section 44AB of the Income tax act would not be applicable in determining the conducting the audit und....
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....er DVAT Act. Reply By Vinod Kumar: The Reply: Sir I am taking about the Balance sheet and Profir & loss account along with audit report required to be submitted to the DVAT Department in the month o....
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....f Jan each year not about the DVAT Audit ? I mean if a VAT dealer is having turnover of 80 lacs in the FY 2012-13 need not to get his account audited in the income tax act, 1961 but whether he has to....
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.... submit the Audited Balance sheet and Profit & Loss account along with audit report to the VAT Department ? Regards<br> Discussion Forum - Knowledge Sharing ....