With ref to above section, my query is" A private Limited Company having Consultancy Service Income more than Rs. 25 Lacs in F.Y. 2015-16." Whether the above section and Tax Audit be applicable on the Company???
Will above be included in busines Income (Limit 1 Crore) or n professional Income (Rs. 25Lacs)???
Whether Professional Income is applicable for individuals only or also applicable on Service Company?
Please clear the provision of Section 44AB and 2(13) and 2(36) of Income Tax Act 1961.
CAclubindia
