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DEFINATION OF SECTION 44AB

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 August 2010 MY CLIENT IS GIVIGN MEDIA SERVICES LIKE PREPARE MEDIA REPORTS AND SELL IT TO NEWS CHANNEL AND TOTAL RECEIPTS IS AROUND 30 LAKS WHETHER MY CLIENT IS COVERED UNDER SEC 44AB OF IT ACT
AND WHY
WHETHER HE IS COVERED IN BUSINESS OR COVERED IN PROFESSIONAL
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
21 August 2010 Production of films is not professional activity. My view this is normal business activity the present tax audit limit is Rs.60 lakhs
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
21 August 2010 AGREE WITH RAMESH JI,
IT IS A BUSINESS AND 60 LAKHS IS THE LIMIT FOR 44AB.
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