Professional illegal services
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 November 2012
A woman is doing body trading activity (i.e escort job) and she has got the annual turnover around a crore.Does she need to go for audit and tax to be levied as well.
KIndly Advice me I couldn't ask the same in the classes just bcoz didnt find it ethical in the class room.
KIndly Advice me I couldn't ask the same in the classes just bcoz didnt find it ethical in the class room.
28 November 2012
The Income Tax Act does not make any distinction between legal income and illegal income.
Illegal income is also taxable.
Accordingly such income is also taxable. Since the gross receipts exceed Rs. 60 lakhs audit is mandatory.
Illegal income is also taxable.
Accordingly such income is also taxable. Since the gross receipts exceed Rs. 60 lakhs audit is mandatory.
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