44ab

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 December 2014 IF A PARTNERSHIP FIRM IS PROVIDING CUSTOM CLEARANCE SERVICES AND BOTH THE DIRECTORS ARE CHA(CUSTOMS CLEARANCE AGENT), FOR THE LEVY OF SEC 44AB WHETHER THEY ARE COMES UNDER PROFEESIONAL SERVICES LIMITS OF RS 15 LAKHS OR COMES UNDER BUSINESS WHICH LIMITS 1 CRORE. PLEASE GUIDE ME IN THIS REGARD.

29 December 2014 The list of professions is specified under section 44AA of IT Act. As per that section CHA comes under business. So for 44AB CHA will classified as business not profession.

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 December 2014 are you sure in this regard?

29 December 2014 If I was not sure I would not have replied in such manner on a public forum.

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 December 2014 THANKS FOR GUIDING ME.


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