44ab coverage
This query is : Resolved
10 January 2014
A person has opened a educational center where he hire experts to provide management classes and pay fees to expert. His centre also provide clauses to institution. whether the receipt of the individual be treated as professional fee. Basically I want to know for tax audit what will be the fy 2012- 2013 limit. 25 lacs or 1 crore. Will he be treated as professional and his receipt of over 26 will come under tax audit??
10 January 2014
my view is that it is covered under business as there is no application of skills by the said person..So 1 cr limit should apply.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Advantages and disadvantages new income tax act 2025 question
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
