sec44AB
This query is : Resolved
07 March 2010
For the purpose of sec 44AB of Income Tax Act, what is the status of a CA Firm(Partnership)-a "Professional" (tax audit limit:15 lakh) OR "Business" (tax audit limit: 60lakh)?
CA Mohd. Ubaid
(Expert)
07 March 2010
For A.Y. 2010-2011 the limit would be Rs 10 lakhs whereas for A.Y. 2011-2012 the limit would be Rs 15 Lakhs.
M Prabhakar Menon
(Expert)
07 March 2010
Mr Ubaid is right its under professional not business
CA.SHAHZAD SAYYED
(Expert)
07 March 2010
Dear Hena
Partnership Firm of CA is also providing Professional Services collectively, so Question of Business doesn't arise.
Partnership Firm of CA is also providing Professional Services collectively, so Question of Business doesn't arise.
CA Ravi Sisodia
(Expert)
07 March 2010
status of partnership CA Firm -- Professional (tax audit limit:15 lakh)
CA Prashant Gupta
(Expert)
07 March 2010
it is professional work so new audit limit 15 lac but for A.Y. 2010-11 it is 10 lac
07 March 2010
Proffesional
CMA Ramesh Krishnan
(Expert)
07 March 2010
Professionals status
07 March 2010
Pl refer CBDT notification N0. S0-17(E) dated 12/01/1977 and No SO 2675 dated 25/09/1972.
You may also refer CIT vs. Manmohan Das (1966) 59 ITR 699 (SC) to know more about profession/business.
To conclude, the answer is Professon.
You may also refer CIT vs. Manmohan Das (1966) 59 ITR 699 (SC) to know more about profession/business.
To conclude, the answer is Professon.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Reward for festival
- 18% Rent a cab
- Capital gain on commercial property and investment in residential property
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- TDS Return Statement Status
- Import of Capital Machine
- ARCA LOGIN
- Appointment of Auditor By Form ADT-1
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
