Basic Exemption Limit of 10 lacs
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 March 2010
Person is providing vocational training
it has become taxable from 27-02-2010
the person has Gross recipt for the financial year 2009-2010 above 10 lacs
but gross reciept for the period 27-02-2010 till 31-03-2010 is just 2 lacs
whether he will be eligible for exemption of 10lacs in current and 2010-11 year?
it has become taxable from 27-02-2010
the person has Gross recipt for the financial year 2009-2010 above 10 lacs
but gross reciept for the period 27-02-2010 till 31-03-2010 is just 2 lacs
whether he will be eligible for exemption of 10lacs in current and 2010-11 year?
01 April 2010
Once you have crossed the threshold limit, then you become liable to service tax, irrespective of gross receipts in next years.
03 April 2010
agreed
CA Ravi Sisodia
(Expert)
03 April 2010
100% agree
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