Caoching Classes
This query is : Resolved
09 September 2010
Hello Friends
My query is as under:
Whether Income from Commerce Coaching Classess is business income or professional receipt?
Accordngly Whether the tax audit limit of Rs. 40,00,000/- or 10,00,000/- will apply for F.Y. 2009-10?
My query is as under:
Whether Income from Commerce Coaching Classess is business income or professional receipt?
Accordngly Whether the tax audit limit of Rs. 40,00,000/- or 10,00,000/- will apply for F.Y. 2009-10?
CMA Ramesh Krishnan
(Expert)
11 September 2010
Coaching classes can be run by a qualified professionals only, so it is professional income limit Rs.10,00,000 for FY 2009-10
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