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Income Tax - Highlights / Catch Notes

Home Highlights December 2012 Year 2012 This

Tax audit u/s 44AB - inclusion of advances - The mischief of ...

Income Tax

December 10, 2012

Tax audit u/s 44AB - inclusion of advances - The mischief of section 44AB shall only become operative if the “turnover or business receipts” exceed Rs. 40,00,000/-. The section does not mention anything with regard to advances received from its customers and that too conditional - AT

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