TaxTMI 
TaxTMI 
Turnover for Tax Audit for A.Y. 2013-14
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....urnover for Tax Audit for A.Y. 2013-14<br> Query (Issue) Started By: - SURYAKANT MITHBAVKAR Dated:- 1-6-2013 Last Reply Date:- 4-6-2013 Income Tax<br>Got 3 Replies<br>Income Tax<br>We are having two ....
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....different proprietor concern under one Proprietor. One concern having manufacturing activity and achieved turnover is Rs.82,00,000/- and other concern is having only Rent Income from property Rs. 18,0....
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....0,000/-. The above criteria please advice whether we are eligible for tax audit under Income Tax Act Reply By sanjeev bajaj: The Reply: Whether rent income from property being shown as business inc....
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....ome or income under the head Income from house Property. If shown as business income , then, rent will be counted as turnover and bothe turnover will be merged for the purpose of tax audit as Sec. 44A....
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....B refers the person. Reply By CA GOPALJI AGRAWAL: The Reply: It is not the prerogative of the assessee to show rental income as business income or business income as rental income, The facts and cir....
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....cumstances decide it. Reply By sanjeev bajaj: The Reply: Interpretation with respect to rental income whether is is business or house property, is different issue depending upon facts and circumstan....
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....ces. Here, the question is of turnover of two proprietorship having business or other income being shown under the same chapter or different. Audit depends upon the turnover of business.<br> Discuss....
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