Query..?
This query is : Resolved
Abhishek Kumar
(Querist)
19 July 2014
Dear Expert,
An individual carries on two type of business :-
1. House Keeping Services
2. General Stores (Stationaries)
I have the queries :-
1. Do i have to treat it as Business & Profession separately ?
2. For calculating Turnover for Tax Audit purpose..do i have to club both the businesses turnover ?
3. What type of Service is House-Keeping Services ?
Pls Reply !!!
An individual carries on two type of business :-
1. House Keeping Services
2. General Stores (Stationaries)
I have the queries :-
1. Do i have to treat it as Business & Profession separately ?
2. For calculating Turnover for Tax Audit purpose..do i have to club both the businesses turnover ?
3. What type of Service is House-Keeping Services ?
Pls Reply !!!
Soumitra Basu
(Expert)
20 July 2014
THERE IS NO PROFESSION. BOTH ARE BUSINESS.
FOR AUDIT UNDER SECTION 44AB TURNOVER OF ALL BUSINESS HAS TO BE CLUBBED TOGETHER.
IT IS NOT A SERVICE BUT A BUSINESS.
PLEASE NOTE DOCTOR IS A PROFESSIONAL BUT NURSING HOME IS A BUSINESS.
FOR AUDIT UNDER SECTION 44AB TURNOVER OF ALL BUSINESS HAS TO BE CLUBBED TOGETHER.
IT IS NOT A SERVICE BUT A BUSINESS.
PLEASE NOTE DOCTOR IS A PROFESSIONAL BUT NURSING HOME IS A BUSINESS.
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