Event management is business or profession for tax audit purpose

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This query is : Resolved

Vaibhav Kotak (Querist)

13 December 2013 We handle Events such as Marriages, Party, Conferances, Corporates Meetings etc. My query is wheather these services will be called business or profession for tax audit purpose

CA Sanjeev Kumar

CA Sanjeev Kumar (Expert)

13 December 2013 For the purpose of the section-44AB, it should be considered as Profession since there is no sale of goods, rather the sale is of service. Further, the service tax also be levied if the taxable value of service is in excess of limit.

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Vaibhav Kotak

Vaibhav Kotak (Querist)

19 January 2014 Sir thank you for your reply. I would further like to update on topic mentioned above. Our services in event management also includes materials used (eg. for making stage, decoration items etc) for any given particular event, these details are also mentioned in invoice issued and even TDS is also deducted by service receiver under Section 192C - Contractors.

Considering these points what will be status for the purpose of Section 44AB.

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