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TMI BlogTurnover for Tax Audit for A.Y. 2013-14X X X X Extracts X X X X X X X X Extracts X X X X ..... Turnover for Tax Audit for A.Y. 2013-14 X X X X Extracts X X X X X X X X Extracts X X X X ..... 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, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 00,000/-. 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 in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come 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. 44 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AB 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 ci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rcumstances 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 circumsta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nces.
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. X X X X Extracts X X X X X X X X Extracts X X X X ..... sion Forum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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