Applicability of 44ab
This query is : Resolved
Rahul Mishra
(Querist)
07 August 2013
Dear Sir,
one of our client provide Third Party Administrator service, total TPA Fee received during Financial Year 2012-13 is Rs. 80 Lacs, should this company is liable under 44AB for Tax Audit.
is TPA fee of this company is covered under Business or Profession.
kindly advise..
one of our client provide Third Party Administrator service, total TPA Fee received during Financial Year 2012-13 is Rs. 80 Lacs, should this company is liable under 44AB for Tax Audit.
is TPA fee of this company is covered under Business or Profession.
kindly advise..
07 August 2013
since your company is providing service and receving professional income the tax audit limit for professional income is rs 25 lakhs, in your case tax audit is applicable as fees received exceeds rs.25 lakhs.
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