Loss under income from business or profession read more at:
This query is : Resolved
06 May 2015
sir, if a person doing job and his income exceeds basic exemption limit. he also earn income from tuitions. he calculate income tuition fee under income from business or profession he claim depreciation under section 32 for residential building @ 5%.the income from business or profession is -ve value. my doubt is he is required to audit under sec-44AB and is required to register business or profession. he run tuitions for tax benefit.
06 May 2015
yes. the audit is required. registrations depend on various other factors. for eg, if the total fees receipt exceeds Rs 9 lakhs, service tax registration is required
06 May 2015
sir,
this is only for tax benefit. so registration is not required. thanks for ur reply.
this is only for tax benefit. so registration is not required. thanks for ur reply.
06 May 2015
sir,
it means proprietary or firm registration is not required. thanks for ur reply.
it means proprietary or firm registration is not required. thanks for ur reply.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Sales amount in Gstr1
- Supply through E-commerce Operators
- TDS Claim year
- Relief u/s Section 89
- TDS Challan Code
- Rent lease agreement
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
