This discussion clarifies whether a nursing home requires an audit under Section 44AB of the Income Tax Act. It confirms that an audit is mandatory if the turnover exceeds the specified criteria. The conversation highlights potential issues with defective memos from the CPC, particularly when income is shown under 'Income from Business or Profession' and explains that nursing home services fall under a specified profession, triggering the tax audit requirement if turnover surpasses £50 lakhs.
09 November 2024
But CPC has send defective memo to submit audit report because of you are doing profession and you have submitted ITR showincome under head I ncome from Business or Profession