Query related to tax audit for contractor
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 August 2016
Dear Experts,
we have taken contract from samsung to repair its mobile which is under warranty period. the samsung will made the payment to us Rs. 90 Per mobile as our service charge however in FY 2015-16 our service charge is 58 Lacs pls let me know does this king of service attract audit on 25 Lacs or on 1 crore as business entity,
Thanks in Advance
Regard
Mukesh
04 August 2016
Audit upon crossing 1 crore since the nature of activity being 'business' and not 'profession'.
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