Tax audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 December 2013 Dear Friends

If an assessee qualified as BSC Honours and taking coaching classes for class XI, XII, Engineering & Medical Entrance Exam Classes for Physics & Maths subjects than what will be the tax audit limit.

And if in the above situation if the assessee has done graduation in engineering will the situation be change for tax audit..

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 December 2013 since professional ser is provided then tax audit limit is Rs. 25lakhs.

Querist : Anonymous

Querist : Anonymous (Querist)

04 December 2013 Dear
In my opinion there is any professional service is done in this regard ????

Other way round, Is teaching students a professional practice as per the Income Tax Act 1961......

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 December 2013 When teaching is involved then there is no selling of goods but service is provided by way of knowledge passing on from teacher to students for consideration.

it is recognised as service for the purpose of income tax act 1961.

Querist : Anonymous

Querist : Anonymous (Querist)

05 December 2013 I am not questioning sale / service.....

Relevant Question is
If coaching done by an Engineer / Science Graduate....will it make the difference in audit limit...if no then Why ????

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 December 2013 the ans is big no..........as there is no differnce carved out by income tax act for prof service given by eng/ science graduate or any1.

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