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jaya krishna (Querist)
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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.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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

jaya krishna

jaya krishna (Querist)
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06 May 2015 sir,
this is only for tax benefit. so registration is not required. thanks for ur reply.

jaya krishna

jaya krishna (Querist)
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06 May 2015 sir,
it means proprietary or firm registration is not required. thanks for ur reply.

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