44AB (Tax audit)

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  1. Shital

    Shital Member

    I am not engaged in any business.

    I am filling ITR - 2 since last five years.

    Now, I want to invest Rs. 1 Crore in Reliance / Government Bond.

    I am regularly filling my wealth Tax return.

    The aforesaid investment will be blocked for Five years and every year i will get return of Rs. 10 to 12 Lacs.

    Now, Please confirm whether I will be covered under 44AB(Tax audit) due to said investment ?

    You are also requested to confirm, the applicability of other provisions, if any due to said investment.

    Many many thanks,
  2. Parul_Gupta

    Parul_Gupta Active Member

    Dear Shital

    As you are not doing any business and only making an Investment, you won't be required to get your tax audit conducted under section 44AB.
  3. Shital

    Shital Member

    Many many thanks
    - Shital
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