• Whether tax audit applicable for flat owners association

Flat owners association  - whether liable for tax audit u/s 44 AB if the gross receipts from service charges received from members exceed 100 lakhs
Asked 3 years ago in Income Tax from CHENNAI, Tamil Nadu
Yes tax audit is applicable if the gross receipts will exceed Rs 100 lakhs.
Vijay N. Kale
CA, Hyderabad
248 Answers
12 Consultations

4.9 on 5.0

Yes
Shyam Sunder Modani
CA, Hyderabad
1408 Answers
95 Consultations

5.0 on 5.0

Ask a Chartered Accountant

Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
  Ask a CA