DEFINATION OF SECTION 44AB
This query is : Resolved
Querist : Anonymous
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
AND WHY
WHETHER HE IS COVERED IN BUSINESS OR COVERED IN PROFESSIONAL
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
CA Sanat Pyne
(Expert)
21 August 2010
AGREE WITH RAMESH JI,
IT IS A BUSINESS AND 60 LAKHS IS THE LIMIT FOR 44AB.
IT IS A BUSINESS AND 60 LAKHS IS THE LIMIT FOR 44AB.
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