Tax Audit
This query is : Resolved
28 October 2008
have one client Company
They are engaged in development of Software. ie. customised software
My question is whether for the purposes of tax audit the software development is considered as business or profession
What is the final wording
Which limit is applicable ten lakhs or forty lakhs for the purposes of tax audit
They are engaged in development of Software. ie. customised software
My question is whether for the purposes of tax audit the software development is considered as business or profession
What is the final wording
Which limit is applicable ten lakhs or forty lakhs for the purposes of tax audit
28 October 2008
profession in my opinion, as Profession involves requiring purely intellectual or manual skill.
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