Applicability of Tax Audit
This query is : Resolved
23 September 2009
One Person is earning Rs.12Lakh as cricket coach. Is he come under Tax audit? Is there any special provisions under Income Tax for him?
Thanks in advance.
Thanks in advance.
23 September 2009
If he is registered as profiessional with cricket board then automatically tax audit will come. Otherwise tax audit is not attracted.
23 September 2009
agree
24 September 2009
I dont think , cricket coaching is a specified profession by CBDT . Although the definition of profession includes vocation(check definition of vocation) . It should be noted that cricket coaching is highly commercial these days , and cannot be termed as a professional service. . i think cricket coaching falls under "business" and 40 laks limit applies even if hes registered with BCCI -Second senior opinion needed
24 September 2009
I don't agree with Rajeev. As this needs applicability of skils. And where there is application of skill appear it will automatically shows that profession.
In my opinion cricket coaching in individual name will be covered as professional income. If the same person getting this amount from any institutions then this will be contract amount and again the limit of 10L apply. If this comes as salary then there is no need to have tax audit.
In my opinion cricket coaching in individual name will be covered as professional income. If the same person getting this amount from any institutions then this will be contract amount and again the limit of 10L apply. If this comes as salary then there is no need to have tax audit.
09 September 2021
professional sport coach and teaching profession is not covered under 44ada , it is also not specified in 4aa
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
