Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Running & Maintaining Bus

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2010 Running & Maintaining of Bus (Travels) are comes under Business or Service? and what is the applicability of audit on the same i.e. 10 lac or 40 Lac

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

24 June 2010 Running Buses is Service nature only but not a professional categary hence the limit is Rs.40 lacs

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
Follow

24 June 2010 IT is a service of tour & transport.
For tax audit : 40 Lacs will be taken.

deepak K Gujrati

deepak K Gujrati (Expert)
Follow

24 June 2010 As per Section 44 AA running and maintaining of bus is not a professional service. Hence limit of Rs 40 lacs [ now 60 lacs from AY 2011-12] will be applicable

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now