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Query related to tax audit for contractor

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 August 2016 Dear Experts, we have taken contract from samsung to repair its mobile which is under warranty period. the samsung will made the payment to us Rs. 90 Per mobile as our service charge however in FY 2015-16 our service charge is 58 Lacs pls let me know does this king of service attract audit on 25 Lacs or on 1 crore as business entity, Thanks in Advance Regard Mukesh
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
04 August 2016 Audit upon crossing 1 crore since the nature of activity being 'business' and not 'profession'.

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